Angola Weekly

Dear subscriber [name],

Here is this last week’s Angola Weekly.

Highlights:

Annual inflation rose to 20.8% in April, increasing for the 6th month in a row and the highest value since March 2018;
According to BNA data, just over USD 188 million in foreign exchange (-77.6% yoy) were sold to retail banks in April, a minimum since June 2005;
The central bank has already carried out the first liquidity-providing operations directly to SMEs, having bought AOA 6.9 Bn of securities from 16 companies up until May 13;
Among the main banks with known 2019 annual reports, BFA recorded the highest earnings, at USD 0.35Bn, with USD 32 million recognized in earnings from previous years; BAI posted around USD 0.33Bn in profit, while SBA and BMA made a profit of USD 0.09Bn and USD 0.08Bn, respectively;
The licenses resulting from the international mining rights tender were awarded to Cimenfort (Angola) and Mimbos Resources (Australia) for phosphate, and to the Bizzi/Somipa (Angola/Brazil) joint venture and Ishangol (USA) for diamonds.

Best regards,
BFA

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