LUANDA, July 6 (Xinhua) -- The National Bank of Angola (BNA), the country's central bank, has lowered the minimum capital requirement for establishing microfinance companies and credit cooperatives, according to a statement published on Wednesday on its official website.
For microfinance companies, the minimum capital for the establishment has been decreased to 5 million kwanzas (about 6,000 U.S. dollars) from 25 million kwanzas. And for credit cooperatives, the requirement has dropped to 1 million kwanzas from 25 million kwanzas.
According to the BNA, the initiative aims to boost microfinance by facilitating the emergence of more institutions. ■