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BNA spends Akz 6.88 billion to purchase securities on stock exchange

Fri, 15 May 2020 14:03 - Updated Fri, 15 May 2020 13:58

Luanda - Angola's National Reserve Bank (BNA) spent until Wednesday 6.88 billion kwanzas on twenty-five Treasury Bonds (OT) on the trading platform of the Stock Debt Exchange of Angola (Bodiva).

The securities purchase of 16 companies was carried out under the Instruction 06/2020, of 6 April, made available for Small and Medium Enterprises (SMEs) to buy the securities.

According to a note reached Angop, the value approved is of 100 billion kwanzas, of which 6.88 billion kwanzas has been disbursed and remaining 93.1 billion kwanzas.

The process was carried out with the commercial banks, covering a total of eight participants, including BAI with an offer of 1.1 billion kwanzas, followed by Banco Atlantico with 850.4 million Kwanzas.

The list includes BFA with an amount of 622.7 million kwanzas, BIC  557.3 million kwanzas, among others.

This instruction follows the declaration of the State of Emergency through  Presidential Decree No. 82/20, of 26 March, stating that measures allow the small and medium-sized companies to transform certain Treasury Bonds in their balance sheets into immediate liquidity to ensure treasury management during this period of less activity.