Angola's Ministry of Finance said the National Assembly has approved two finance-related laws: a legal regime for collaborative financing and a separate regime for supervising external audits of public interest entities. In comments to the press, Finance Minister Vera Daves de Sousa said the collaborative financing law is intended to create a regulated way to fund projects and ideas that often cannot meet the stricter requirements of traditional lenders, while the audit law introduces oversight for a market the ministry said had operated with too little supervision. The collaborative financing regime applies to campaigns run by operators of electronic platforms with headquarters or effective management in Angola, as well as to funders and beneficiaries. The minister said the framework will allow ideas to be presented on a platform, promoted and funded by contributors with an expectation of return, while limiting abuses, fraud and blackmail through a regulated and supervised environment. In the same session, the National Assembly also approved the law on supervision of external audits of public interest entities with 157 votes in favor, no votes against and no abstentions. The ministry said the measure sets clear rules for external audits of entities whose size and impact can materially affect the economy and citizens, and cited International Organization of Securities Commissions principles that auditors should be subject to appropriate supervision, remain independent from audited entities and follow internationally recognized quality standards.

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