The National Bank of Angola (BNA) has called for a major push in financial literacy among the population to ease access to credit and accelerate economic development, with the central bank's regional director for the Centre region, Rosalina Lima, making the appeal in Huambo on Friday.
Lima was addressing the technical and scientific council of the Huambo Provincial Directorate of Agriculture, Livestock and Fisheries, held in the municipal town of Ucuma.
She argued that financial education equips borrowers to use credit responsibly, ensures greater sustainability of loan portfolios and supports the expansion of businesses tied to economic diversification — a central pillar of Angola's development strategy.
Lima outlined the conditions that banks require for credit approval: a sound business plan, a clean tax record, organised accounting and a strong history of meeting financial obligations. She stressed that these factors are decisive in building confidence among banking institutions and unlocking access to formal financing.
She further noted that timely repayment of loan instalments reduces non-performing credit levels, strengthens the financial system as a whole and expands banks' capacity to extend new financing to clients.
Lima also highlighted that financial institutions currently offer dedicated credit lines targeting agriculture, industry, renewable energy and other sectors of the real economy, with the aim of stimulating domestic production and accelerating economic diversification.
However, she expressed concern over the absence of mortgage credit facilities in the Centre region, noting that this product is available in other parts of the country — a gap that she said needed to be addressed.
Huambo province is home to 17 financial institutions, which are focused on supporting the financing of productive and sustainable development projects.
During the session, participants examined topics including commercial banking and the real economy, the role of financial institutions, agro-livestock and forestry financing, as well as the georeferencing of crops.
Source: ANGOP / Original article: https://www.angop.ao/noticias/economia/bna-advoga-literacia-financeira-para-fortalecer-acesso-ao-credito/
