Credit boosts the economy, but agriculture, hunting and forestry sees the portfolio decreasing by more than 38%, in a scenario in which BNA Notices continue to mean the majority of the concession
The Real Sector recorded an increase of 34.29 billion kwanzas in November 2023, around 2.71%, reaching a total of 1.23 billion kwanzas, as shown by data from the National Bank of Angola (BNA).
Despite this increase compared to the previous quarter, gross credit to the real sector over the total credit portfolio of the banking sector reduced by 3.57 percentage points, compared to the same period last year, as justified by the document, due to the prioritization of the construction sector.
Furthermore, there is a decrease in the contribution of resources to the “agriculture, animal production, hunting, forestry and fishing” sector of around 170.22 billion kwanzas. After all, the reduction in this segment is around 38%, compared to the previous period and as the BNA document itself shows.
Looking at the BNA Notices, it is clear that the credits arising from them totaled 947.60 billion kwanzas, which shows the relevance of these directives from the regulator when it comes to granting credits.
A relevance that becomes even greater when looking at the volume of credits granted through the regulator’s Notices, it represents a little more than 77% of total credit to the real sector and around 15% of the gross credit portfolio, that is, of the total of credits granted in the period. It is important to highlight that in the last five years, there has been an average growth rate in real sector credit of 33.66%.
