National Bank of Angola settles $426 million debt with Namibian counterpart

The National Bank of Angola (BNA) has paid its Namibian counterpart $51.1 million, completing a debt repayment plan drawn up in the aftermath of a failed currency agreement.

“The Bank of Namibia is delighted that the debt repayment has been concluded in the spirit of mutual trust and co-operation,” said Ebson Uanguta, deputy governor of the Bank of Nambia, at a press conference on June 29.

The debt was the result of a ‘currency conversion agreement’, launched in June 2015, which allowed for th