Angola: Recredi Recovers Over Seven Billion Kwanzas

Luanda — Recredit - Gestão de Activos S.A recovered, over the last 12 months, 7.8 billion Kwanzas, out of a total of Kz 182.7 billion, from bad loans of the state-owned bank Banco de Poupança e Crédito (BPC).

The Strategy and Monitoring Committee (CEM) met today at its 1st session, chaired by the Minister of Finance, Vera Daves, an event where the operating results for 2020 up to the first quarter of this year were presented, as well as approving the regulations of the strategy committee.

The Chairman of the BPC Board of Directors, Valter Barros, who announced this on Wednesday, considered the period under review challenging due to the negative effects of the Covid-19 pandemic in the country.

"We consider that this figure of 7.8 billion kwanzas is behind of the objectives placed on Recredit, but we know that 2020 was challenging, with many economic uncertainties arising from the pandemic that the country and the world is suffering," he stressed.

About the perspectives for the current year, he said that Recredit's objective is the recovery of 19 billion Kwanzas, with the aim of obtaining the maximum of the amount granted by BPC and return the money to the National Treasury.

The Strategy and Monitoring Committee (CEM) met today at its 1st session, chaired by the Minister of Finance, Vera Daves, an event where the operating results for 2020 up to the first quarter of this year were presented, as well as approving the regulations of the strategy committee.

The Chairman of the BPC Board of Directors, Valter Barros, who announced this on Wednesday, considered the period under review challenging due to the negative effects of the Covid-19 pandemic in the country.

"We consider that this figure of 7.8 billion kwanzas is behind of the objectives placed on Recredit, but we know that 2020 was challenging, with many economic uncertainties arising from the pandemic that the country and the world is suffering," he stressed.

About the perspectives for the current year, he said that Recredit's objective is the recovery of 19 billion Kwanzas, with the aim of obtaining the maximum of the amount granted by BPC and return the money to the National Treasury.

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