Angola | 2019.12.09
Interest Rate Update
Following BNA Order 11/2011, of 20 October 2011, which regulated interest rates for Marginal Lending and Absorption Facilities, BNA established, through Directive 02/DMA/2019, of 24 October 2019, that: BNA's Basic Interest Rate remains at 15% per annum; the Interest Rate of the Permanent Liquidity Absorption Facility with a maturity of 7 days is 10% per annum; and the Interest Rate of the Permanent Overnight Liquidity Absorption Facility remains at 0% per annum.
Angola | 2019.11.29
New Terms and Conditions for the Activity of Currency Exchanges
National Bank of Angola Order 08/19, of 6 November 2019, which came into force on the same day, amended the terms and conditions under which Currency Exchanges are to operate.
São Tomé and Príncipe | 2019.11.27
International Public Tender for the Construction of the Deepwater in Fernão Dias
The Technical Unit for the Support of Public-Private Partnerships has announced the launch of the international public tender for the technical and financial proposal for the Design, Build, Finance and Operate (DBFO) of the deepwater port in Fernão Dias, in the Lobata district, under a public-private partnership.
Angola | 2019.11.27
Operational Rules and Procedures for the Provision of Remittance Services by Financial Institutions
National Bank of Angola Order 09/19, of 6 November 2019, established the operational rules for the provision of remittance services by Financial Institutions.
Angola | 2019.11.27
Rules and Procedures to be Observed in the Purchase of Foreign Currency by Natural Persons
National Bank of Angola (“BNA”) Order 10/19, of 6 November 2019, which will come into force on 6 January 2020, established the rules and procedures to be observed in the purchase of foreign currency for foreign exchange operations by natural persons, particularly:
Angola | 2019.11.08
Public-Private Partnerships Regulations Enacted
Following the recent approval of the new Law on Public-Private Partnerships (Law No. 11/19, of 14 May 2019), its implementing regulations have now been enacted by means of Presidential Decree No. 316/19, of 28 October 2019.
Cape Verde | 2019.10.22
New Commercial Code and Companies enter into Force Today
The new Commercial Code and Companies Code approved by means of Legislative-Decree No. 1/2019 and Legislative-Decree No. 2/2019, respectively, both of 23 July 2019, come into force today. The 1888 Commercial Code and the 1999 Companies Code thus ceased to be effective, as they were revoked by those Legislative-Decrees.
Angola | 2019.10.22
Granting of Credit by Financial Institutions for Production of Essential Goods
BNA Order No. 4/19, of 3 April 2019, determined which essential goods that have a supply deficit in respect of national product are eligible for the granting of credit by Banking Financial Institutions and the relevant credit conditions, namely the maximum interest rate, commissions and other terms and conditions, such as the overall amount of credit to be granted annually by a given Banking Financial Institution.
Angola | 2019.10.16
International Open Tender for Soyo Refinery Announced
The Ministry of Mineral Resources and Petroleum announced the launching of an international open tender for the construction of the Soyo Refinery, in the Province of Zaire. This public tender will be officially launched on 24 October 2019 and the refinery is expected to start operating in 2023.
Portugal | 2019.10.11
Guidelines on risk factors under Prospectus Regulation
The European Securities and Markets Authority (“ESMA”) has issued guidelines on risk factors under the Prospectus Regulation.