Luanda - The manufacturing industry subsector benefited, last June, from 639.80 billion kwanzas, an amount that represented 49.59% of gross credit granted to the non-financial sector, within the scope of Bank Notice No. 10/2022 of Angola (BNA) to promote the real sector of the Angolan economy.
According to the BNA's Statistical Information note on Credit, in the period in question, gross credit granted to the non-financial sector amounted to 6.7 billion kwanzas, recording an accumulated increase of around Kz 936.7 thousand million (16.3%), compared to the same period in 2023.
Of this amount, 88.4% represented private sector debt (private companies and individuals) and 11.6% public sector debt (public administration and public companies).
Along the same path, the extractive industries subsector absorbed 329.65 billion kwanzas (25.55%), while agriculture, animal production, hunting, forestry and fishing benefited from a total of 320.73 billion kwanzas (24. 86%).
On the other hand, the Central Bank highlights that, in June 2024, the stock of credit to the economy, in national currency, reached Kz 4.9 billion, having registered an increase of 359.5 billion kwanzas, in the first six months of the current year.
Of this amount, the debt of the non-financial public sector totaled 773.2 billion kwanzas, of which 57% related to public administration and 43% to public companies, with an increase of Kz 172.5 billion (28.7%) , compared to the same period last year.
Private sector debt (private companies and individuals) increased by 764.2 billion kwanzas (14.9%), rising from Kz 5.1 billion in June 2023, to 5.9 billion in June 2024.
In the same table, the debt of private non-financial companies corresponded to 4.6 billion, with an increase of 675.5 billion kwanzas (17.2%) and the debt of individuals corresponded to Kz 1.3 billion, with an increase of 88.7 billion kwanzas (7.3%).
Still last June, gross credit directed to the real sector of the economy totaled 1.29 billion kwanzas, a decrease of Kz 50.48 billion (3.77%) in relation to the corresponding period of the previous year, driven mainly by slowdown in the allocation of resources to the subsector of agriculture, animal production, hunting, forestry and fishing”.
Meanwhile, the total credit granted under Notice No. 10/2022 of the BNA for the promotion of the real sector reached 1.11 billion kwanzas, representing 86.17% of the total credit granted to this sector and 16.59% of the banking system's gross credit portfolio.
Compared to the same period last year, there was a significant increase of 139.92 billion kwanzas (14.40%), driven essentially by the financing of projects in the manufacturing industry subsector, which recorded an increase of 91.78 billion of kwanzas (17.55%). QCB/DOJ
