{"id":39512,"date":"2023-07-12T19:07:14","date_gmt":"2023-07-12T19:07:14","guid":{"rendered":"https:\/\/www.africa-press.net\/angola\/all-news\/constitution-of-microcredit-companies-reduces-to-kz-5-million"},"modified":"2023-07-12T19:42:31","modified_gmt":"2023-07-12T19:42:31","slug":"constitution-of-microcredit-companies-reduces-to-kz-5-million","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/angola\/all-news\/constitution-of-microcredit-companies-reduces-to-kz-5-million","title":{"rendered":"Constitution of microcredit companies reduces to Kz 5 million"},"content":{"rendered":"

Africa-Press – Angola. <\/strong><\/span>The share capital required to set up a non-banking microcredit company has been reduced from 25 million to five million kwanzas, with a view to promoting the emergence of new operators in the Angolan financial market.<\/b><\/p>\n

According to the director of the Non-Banking Supervision Department of the National Bank of Angola (BNA), Ca\u0302ndido Pina, this measure is part of the publication of four notices\/regulations related to the constitution of non-banking financial institutions recently made by the Central Bank.<\/p>\n

Speaking to the press, regarding the publication of the respective regulations, the official underlined that the reduction of share capital will make it possible to minimize one of the main difficulties that economic agents faced in setting up a microcredit society.<\/p>\n

\u201cWith this reduction, we are sure that we will have new operators, including agents who carry out microcredit activities in the informal market without being licensed by the BNA\u201d, he reinforced.<\/p>\n

In addition, the source said that the new regulations also reduce the share capital for setting up a Credit Union, having gone from 25 million to one million kwanzas.<\/p>\n

Among other advantages foreseen in the Central Bank notices, the director also points out the elimination of the presentation of a business plan that was previously required for the constitution of a Credit Union.<\/p>\n

The current regulations, he said, only require a minimum limit of three founding members of the Cooperative, a proposed statute and proof of the lawful origin of the funds to be used.<\/p>\n

Another novelty that appears in these regulations is the emergence of Microcredit Operators (commercial companies in full operation), a new figure that can develop microcredit as a secondary activity, according to the BNA source.<\/p>\n

Ca\u0302ndido Pina clarified that commercial companies must have a microcredit concession limit of up to 250,000 kwanzas per customer.<\/p>\n

With the simplification of the processes provided for in the new notices, the BNA foresees facilitating access to microcredit for families and micro-entrepreneurs who \u201cdo not have access to traditional banking credit\u201d.<\/p>\n

Additionally, the respective regulations will allow for an increase in the financial inclusion rate and the diversification of funding sources for entrepreneurs.<\/p>\n

Currently, the BNA controls 19 non-bank microcredit institutions and a fully functioning credit cooperative.<\/p>\n

For the Central Bank, this number of non-banking institutions, whose regulation dates from 2011, still does not satisfy the market, therefore, there was a need to review the requirements for attracting more operators.<\/p>\n

Of the four regulations published recently by the BNA, Notice no 04\/2023 stands out, which establishes the requirements and procedures for the constitution of Microcredit Societies and Credit Unions, as well as the registration of Microcredit Operators (commercial companies in full operation) .<\/p>\n

Then comes Notice No. 05\/2023, which ensures the minimum share capital applicable to non-banking financial institutions linked to currency and credit, under the supervision of the National Bank of Angola.<\/p>\n

Finally, the set of regulations includes Notice No. 06\/2023, on the Operating Rules of Microcredit Societies, as well as Notice No. 07\/2023, which establishes the appropriate operational rules for the activities permitted to Cooperative Societies of Credit.<\/p>\n

For More News And Analysis About Angola<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Angola. The share capital required to set up a non-banking microcredit company has been reduced from 25 million to five million kwanzas, with a view to promoting the emergence of new operators in the Angolan financial market. According to the director of the Non-Banking Supervision Department of the National Bank of Angola (BNA), […]<\/p>\n","protected":false},"author":84,"featured_media":39511,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,337,329],"class_list":["post-39512","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-angola","tag-angola"],"yoast_head":"\nConstitution of microcredit companies reduces to Kz 5 million - Angola<\/title>\n<meta name=\"description\" content=\"The share capital required to set up a non-banking microcredit company has been reduced from 25 million to five milli ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/angola\/all-news\/constitution-of-microcredit-companies-reduces-to-kz-5-million\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Constitution of microcredit companies reduces to Kz 5 million\" \/>\n<meta property=\"og:description\" content=\"The share capital required to set up a non-banking microcredit company has been reduced from 25 million to five milli ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/angola\/all-news\/constitution-of-microcredit-companies-reduces-to-kz-5-million\" \/>\n<meta property=\"og:site_name\" content=\"Angola\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-12T19:07:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-12T19:42:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/angola\/sites\/65\/2023\/07\/sm_1689172685.537713.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/constitution-of-microcredit-companies-reduces-to-kz-5-million#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/constitution-of-microcredit-companies-reduces-to-kz-5-million\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/angola\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Constitution of microcredit companies reduces to Kz 5 million\",\"datePublished\":\"2023-07-12T19:07:14+00:00\",\"dateModified\":\"2023-07-12T19:42:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/constitution-of-microcredit-companies-reduces-to-kz-5-million\"},\"wordCount\":522,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/constitution-of-microcredit-companies-reduces-to-kz-5-million#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/angola\/sites\/65\/2023\/07\/sm_1689172685.537713.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Angola\",\"Angola\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/angola\/all-news\/constitution-of-microcredit-companies-reduces-to-kz-5-million#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/constitution-of-microcredit-companies-reduces-to-kz-5-million\",\"url\":\"https:\/\/www.africa-press.net\/angola\/all-news\/constitution-of-microcredit-companies-reduces-to-kz-5-million\",\"name\":\"Constitution of microcredit companies reduces to Kz 5 million - 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