Banco de Desenvolvimento de Angola transfers 261.92 billion kwanzas in debt to Recredit

The Banco de Desenvolvimento de Angola (BDA) has formalized the transfer of 434 debtors to Recredit — Gestão de Activos. The total exposure involved in this operation is approximately 261.92 billion kwanzas, averaging about 604 million kwanzas per debtor.

Announced during an extraordinary session of the Economic Team in Luanda, the move aims to improve asset quality and free up capacity for new financing within the economy.

Additionally, the BDA signed four memorandums of understanding with companies in the agro-industrial and metallurgical sectors. These include partnerships with Every Where Angola for soybean oil production, Nova Fumetal for agricultural machinery, and Virtus Honos Trading for a fruit pulp factory. A fourth tripartite agreement involving the Fundo de Apoio ao Desenvolvimento Agrário (FADA) and Lumina — Spargere focuses on the Kahosi Agroindustrial Project, which intends to establish four medium-scale agro-industrial units for processing local raw materials into food, animal feed, vegetable oils, and coffee.