Luanda — Gross credit to the non-financial sector amounted to 6.22 billion kwanzas, having recorded an increase of around 1.4 billion Kwanzas (29.68%), in February, compared to the same period last year.
A Statistical Information note on Credit made available by the National Bank of Angola (BNA), 87.60% of the credit represented the debt of the private sector (private companies and individuals) and 12.40% the debt of the public sector (public administration and public companies).
According to the note consulted Sunday by ANGOP, the stock of credit to the economy, in national currency, reached 4.60 billion kwanzas in February, having registered an increase of 69.35 billion kwanzas, in the first two months of the current year.
The document also states that the debt of the non-financial public sector totaled 771.40 billion kwanzas, of which 58.77% refers to public administration and 41.23% to public companies. Compared to the same period last year, there was a growth of 386.24 billion kwanzas (100.28%).
In turn, private sector debt (private companies and individuals) increased by 1.04 billion kwanzas (23.52%), rising from 4.41 billion kwanzas, in February 2023, to 5. 45 billion kwanzas, in February 2024, with the debt of private non-financial companies corresponding to 4.23 billion Kwanzas.
In the period under analysis, there was also an increase of 747.73 billion kwanzas (21.48%) and private debt corresponded to 1.22 billion kwanzas, with an increase of 299.23 billion kwanzas (31.13%).
In February 2024, gross credit allocated to the Real Sector of the Economy totaled 1.25 billion kwanzas, which represents an increase of 63.48 billion (5.35%), compared to the same period last year, driven mainly by the increase in resources channeled to the Extractive Industry subsector of around 98.13 billion kwanzas (43.26%).
Despite the observed increase, the share of credit to the Real Sector in the total bank credit portfolio decreased by 3.86 percentage points, compared to the previous year, standing at 20.81% in February 2024, adds the note.
The document explains that this decrease was due to the slowdown in the granting of credit to the real sector, which registered a decrease of 4.48 percentage points, standing at 5.34%.
The total current credit granted under BNA Notice 10/2022 to promote the Real Sector totaled 972.55 billion kwanzas, which represents 77.80% of the total credit granted to the Real Sector and 16.19% of the banking system's gross credit portfolio.
Sign up for free AllAfrica Newsletters
Get the latest in African news delivered straight to your inbox
Compared to the same period last year, there was a notable increase of 125.79 billion kwanzas (14.86%), mainly influenced by the financing of projects in the Agriculture, Animal Production, Hunting, Forestry and Fishing subsector, which recorded an increase of 88.67 billion kwanzas (25.98%).
The BNA highlights that, in terms of subsectors of economic activity, of the total credit granted to the Real Sector in the period under analysis, the Manufacturing Industry subsector stands out, with 625.65 billion kwanzas (50.05%), of the of which 603.50 billion (96.46%) corresponds to credit under Notice 10.
The Extractive Industry subsector also stands out, with 324.97 billion kwanzas (26.00%), of which 84.96 billion (26.14%) were granted under credit granting notices to the real sector and the subsector of Agriculture, Animal Production, Hunting, Forestry and Fishing with 299.38 billion kwanzas (23.95%), of which 284.10 billion (94.90%) were granted under the scope of BNA warnings about promoting credit to the Real Sector. HM/QCB/DOJ
