Angola Banking Capital Markets Finance Securities SME

Bank of Angola spends £10M+ to purchase securities on stock exchange

The securities purchase of 16 companies was carried out under the Instruction 06/2020, of 6 April, made available for Small and Medium Enterprises (SMEs) to buy the securities.

According to a note that reached Angop, the value approved is of Akz100B, of which Akz6.88B has been disbursed and remaining Akz93.1B.

The process was carried out with the commercial banks, covering a total of eight participants, including BAI with an offer of Akz1.1B, followed by Banco Atlantico with Akz850.4M.

The list includes BFA with an amount of Akz622.7M, BIC with Akz557.3M, among others.

This instruction follows the declaration of the State of Emergency through Presidential Decree No. 82/20, of 26 March, stating that measures allow the small and medium-sized companies to transform certain Treasury Bonds in their balance sheets into immediate liquidity to ensure treasury management during this period of less activity.

Source: Angop

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