Banco de Negcios Internacional of Angola has announced via releasing a statement on Monday in Luanda that the lender has approved a syndicated loan facility in kwanzas
worth US$400 million for the Angolan Finance Ministry.
It seems like a win-win-win proposition: the national banking system is strengthened, use of kwanzas
to pay for local debts is legitimized and the local economy is flooded with a base of capital to spur investment and development in areas outside of oil.
Indecision almost cost our final World Cup Foreign Fortunes winner his 78,000 Angolan Kwanzas
At the end of 1995, $100 was worth 2,500,000 kwanzas
or double the exchange rate at mid-year.
He said, This credit line, with a budget of 5 billion kwanzas
, was created with the aim of bringing banking services closer to the community and reducing red tape for access to loans, particularly by micro, small and medium enterprises.
Covering an area of 260 square meters, the two-floor institution was put up within six months and is estimated at 33 million Kwanzas
Citic (Brazil) will invest seven billion Kwanzas
in geological studies and six billion in infrastructures.
The deal which is to be inked in Santa Clara, Cunene province, would enable direct exchange between Kwanzas
and Namibia dollars in banks, bureau de change or other authorised agents in each country, with the central banks responsible for publishing the daily benchmark exchange rate.
3 billion kwanzas
(US$116 million) from the Angolan government to boost the cement plant s production capacity, as per to a presidential decree.
China-Africa Development Fund and Welfare Fund of National Police Staff have entered into a cooperation agreement worth about 150 billion kwanzas
The increase of its capital to 50 billion kwanzas
has been declared by the Banco EspE[degrees]rito Santo Angola (BESA), which is an unprecedented investment and without parallel in the national market that transforms BESA into the most capitalized bank of Angola.
5 million Kwanzas
(roughly USD 15,000), which will be contributed to the Arnaldo Janssen children's shelter house.