Angola's Ministry of Finance published remarks by Secretary of State Ottoniel dos Santos setting expectations for the banking sector, focusing on universal access to adequate banking services, stronger financial literacy and inclusion, and more transparent and sustainable customer relationships. He framed the banking licence as a public-trust instrument that requires reciprocity, and argued that bank profitability should translate into tangible benefits for the productive economy and citizens. The remarks highlighted that banking profits grew 82% in 2024, well above the pace of the national economy, and stressed that the objective is not to cap results but to ensure profitability supports inclusive growth. Regulatory progress was cited through Law 24/21, which strengthened supervisory effectiveness, and measures such as Notice 10/2024 aimed at boosting credit to the productive sector. Banks were urged to act as development partners by helping structure projects, mitigate risks and support micro, small and medium entrepreneurs, while using digital transformation to reduce costs, improve transparency and expand financial literacy; the statement also warned that ongoing mergers and recapitalisations should reinforce the system’s public mission and territorial commitment.

Original source View in tracker