Angolan central bank looks to boost BESA capital by $4.3 billion

jose-de-lima-massano-angola
José de Lima Massano, governor of the National Bank of Angola

The National Bank of Angola ordered Banco Espírito Santo Angola (BESA) to boost its capital through a variety of measures yesterday, while also announcing plans to conduct an asset quality review of every bank operating in Angola.

According to a statement issued yesterday by the central bank, BESA needs to raise 426 billion kwanza ($4.3 billion) to mitigate the "high losses in its loan portfolio and other assets not covered by provisions".

The headline measure sees the majority of a 361 billion

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