National Bank of Angola facilitates imports of food and bio-safety materials

1 April 2020

Imports of some food, medicines and bio-safety materials will benefit from a temporary exemption on payment instrument limits, announced the National Bank of Angola, ton publishing instruction no. 05/2020, of 30 March.

The exemption applies provided that payments are made directly to the producers of those goods or their official representatives, and the food products covered are sugar, rice, corn and wheat grain, beans, powdered milk, cooking oil and beef, pork and chicken.

The instruction stipulates that advance payments for importing the food products, medicines and bio-safety equipment of over US$100,000 per transaction are subject to the authorisation of the Angolan central bank, without the need to submit bank guarantees for their execution.

Payments of imports of all other products that are not covered by this instruction and which may be considered essential are also subject to the approval of the National Bank of Angola. (macauhub)