BFA - Angola Weekly

Dear subscriber [name],

Please find attached this week´s Angola Weekly:

Highlights:

• A financing agreement was authorized between Angola and Deutsche Bank, worth a total of EUR 135 million, for the equipping of academic infrastructure in the province of Benguela;

• In March, public sector deposits recorded a nominal yoy contraction of around 11.8%, mainly influenced by the 30.5% yoy drop in sector deposits in external currency;

• In the third month of the year, credit to the private sector in local currency grew 27.9% yoy in nominal terms, reaching AOA 5.6 Trillion. In the public sector, credit in local currency grew 47.9% yoy;

• Interbank money market interest rates have remained around 20.5% since early February;

• According to press reports, Chevron, a North American oil company, is preparing to sell its stake in blocks 14 (31%) and 14T (15.5%), whose production is declining.

Best regards,
BFA

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