Africa Monitor Intelligence

Angola: Massano´s Selective "Heavy Hand" in Banking Sector

 (Africa Monitor 1180, Research and Analysis)

1. The governor of the National Bank of Angola (BNA), José de Lima Massano (JLM), opted for the more burdensome measures provided for by law in relation to the insufficient equity of Mais and Postal banks, both linked to the family of the former PR José Eduardo dos Santos. The BNA decreed in Jan., the revocation of the operating authorization of both banks, in light of its Mar.2018 notice, which required that the minimum amount of the fully paid-up capital of the banks increased to AOA 7,500 million, along with compliance with Regulatory Equity (RPF) and the Regulatory Solvency Ratio (RSR), determined by Notice No. 2/16.