BNA — Banco Nacional de Angola
Angola’s central bank, responsible for monetary policy, financial system supervision, exchange rate management, and currency issuance. Founded in 1976 following independence.
Key Facts
- Full Name: Banco Nacional de Angola
- Founded: 1976
- Governor: José de Lima Massano (since 2017)
- Mandate: Price stability, financial system stability
- Base Rate: 17.5%
- Reserves: ~$14 billion
- Currency Issued: Angolan Kwanza (AOA)
Functions
The BNA conducts monetary policy through interest rate setting (base rate, standing facilities, reserve requirements), manages FX reserves and the exchange rate (through twice-weekly FX auctions), supervises commercial banks and payment systems, issues currency and manages the payments infrastructure, and serves as the government’s fiscal agent for treasury bill and bond auctions.
Recent Policy Focus
Since 2019, the BNA has pursued a comprehensive reform agenda including: (1) exchange rate liberalization (eliminating the fixed peg), (2) inflation targeting framework (medium-term target of single-digit inflation), (3) banking sector restructuring (resolution of distressed banks), and (4) digital payments modernization (instant payments system).