Gross credit to the non-financial sector, in January 2024, amounted to 6.01 billion Kwanzas, with an increase of around 1.3 billion Kwanzas (27.97%), compared to the same period last year, with 88.65% represented the debt of the private sector and 11.35% of the public sector, ANGOP learned today.
According to the January Statistical Information on Credit note, released on Monday, on the website of the National Bank of Angola, the debt of the non-financial public sector totaled 681.78 billion Kwanzas, of which 49.30% refers to public administration and 50.70% to public companies.
According to the document, compared to the same period last year, there was a growth of 319.72 billion Kwanzas (88.30%).
The National Bank of Angola (BNA) says that, in turn, private sector debt (private companies and individuals) increased by 992.87 billion kwanzas (22.93%), rising from 4.33 billion Kwanzas in January 2023, to 5.32 billion Kwanzas in January 2024, with the debt of private non-financial companies corresponding to 4.12 billion.
The value referenced above corresponds to an increase of 709.82 billion Kwanzas (20.79%) and private debt corresponded to 1.20 billion Kwanzas, with an increase of 283.05 billion Kwanzas (30. 91%).
Regarding the Real Sector, the document adds, in the month of January 2024, gross credit allocated to the Real Sector of the Economy totaled 1.24 billion Kwanzas, an increase of 92.84 billion Kwanzas (8.08%), compared compared to the same period last year, driven mainly by the increase in resources channeled to the “Extractive Industries” subsector, of around 119.22 billion Kwanzas (58.83%).
However, the note highlights that despite the increase recorded, the weight of gross credit to the Real Sector on the total credit portfolio in the banking circuit reduced by 3.2%, compared to the same period last year, reaching 21.47% in January 2024, justified by the greater increase in credit destined for non-productive sectors (29.58%).
According to the document, the total current credit granted under Notice No. 10/2022 of the BNA, for the promotion of the Real Sector totaled 969.16 billion Kwanzas, which represents 78.06% of the total credit granted to the Real Sector and 16.76% of the banking system’s gross credit portfolio.
The note reinforces that, compared to the same period last year, there was a notable increase of 267.96 billion Kwanzas (38.21%), mainly influenced by the financing of projects in the “Agriculture, Animal Production, Hunting, Forestry and Fishing”, which registered an increase of 67.94 billion Kwanzas (19.91%).
As for the sectors of economic activity, the total credit granted to the real sector in the period under analysis, the Manufacturing Industries subsector stands out with 614.23 billion Kwanzas (49.47%), of which 598.92 billion Kwanzas (97.51%), corresponding to credit under the Notice.
The Extractive Industries subsector also includes 321.87 billion Kwanzas (25.97%), of which 90.90 billion Kwanzas (28.24%), granted under the Notice on granting credit to real sector.
The Agriculture, Animal Production, Hunting, Forestry and Fishing subsector also stands out with 305.41 billion Kwanzas (24.60%), of which 279.34 billion Kwanzas (91.46%) were granted within the scope of the BNA Notice on the promotion of credit to the Real Sector.
