Africa-Press – Angola. The difference between the informal and formal market exchange rates has gone from 150% in 2017 to less than 10% currently, said the governor of the National Bank of Angola (BNA), José de Lima Massano.
José Lima Massano, who received in audience, on Tuesday, the Executive co-president of Deutsche Bank for the Middle East and Africa, Kees Hoving, says that such “fall” is due to the reforms implemented in the monetary and exchange market, in the last years.
Kees Hoving is visiting Angola to witness the most recent transformations operated in the Angolan financial system, according to a publication by the Central Bank.
On the occasion, José de Lima Massano gave a brief summary of the main reforms implemented by Banco Nacional Angola, between 2017 and 2022, highlighting, among others, the total settlement of foreign operations, in the amount of USD 5 billion, which pending, the change in the exchange rate regime, from an exchange rate fixed by the exchange authority to one determined by market forces.
The governor of the Central Bank also spoke of the contracting of the Bloomberg FXGO platform, which made it possible to ensure the operation of the foreign exchange market, in a completely electronic and transparent way.
According to José de Lima Massano, the impact of the New BNA Law on the Corporate Governance and Internal Control model, especially in the domain of the governor’s appointment process, as well as the inclusion of directors with non-executive functions, is an unprecedented milestone in the history of the BNA.
In turn, Deutsche Bank Executive Co-President for the Middle East and Africa, Kees Hoving, shared his institution’s strategic vision in relation to the implementation of various projects in the sub-Saharan region, in general, and in Angola, in general. particular.
Kees Hoving also spoke about the prospects for the activity of that banking financial institution in the country in the medium term.
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