FOREIGN EXCHANGE POLICY

The Angolan Central Bank (Banco Nacional de Angola – “BNA”) recently approved Notice no. 01/2020, with a view to simplifying the

administrative procedures for licensing the import of goods, and Notice no.

02/2020 with a view to making exempt from authorisation certain current

invisible transactions, ordered by legal persons.

NOTICE NO. 01/2020, OF 9 JANUARY

the BNA’s prior authorisation, import operations of goods with a settlement period of more than 360 (three hundred and sixty) days, as from the date of the customs clearance of landing.

NOTICE NO. 02/2020, OF 9 JANUARY

foreign exchange transactions involving current invisibles made by foreign

exchange resident legal entities.

a) elimination of the obligation to license service agreements concluded with foreign exchange non-resident entities, regardless of their value;

b) waiver of the need to send a copy of the contracts to the BNA;

c) increase in the value of the transactions requiring the signing of a contract, from Kz 1,000,000 to USD 25,000.

Notice no. 02/2020 entered into force on the date of its publication.