Angola Guide: Money

Our money guide provides information on bank accounts, money exchange, credit and debit cards and money transfers. If you need to open a bank account, we will explain how to do it - step by step.

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  Angolan financial climate

  High prices for expats

  Angola’s capital city, Luanda, has been voted the most expensive city to live in by the 2015 Mercer survey.

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  Investing in Angola

  Key industries and trade

  Angola has the second biggest oil reserves in Africa after Nigeria, aside from oil, Angola’s biggest export is diamonds.

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  Currency in Angola

  The Angolan kwanza

  The New Angolan Kwanza (KZ) is the currency used in Angola. It’s split into 100 cêntimos and is issued and managed by the Banco Nacional de Angola.

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  The banking system in Angola

  Accounts, credit cards & exchanging money

  The Angolan banking system is the third largest in Sub-Saharan Africa, after Nigeria and South Africa. There are three state-owned banks and a total of 23 banks in Angola. Nearly half the Angolan financial system is linked to banking groups in Portugal.

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  Bank loans and income taxes

  Getting a bank loan and tax declarations

  Although the banking system is growing rapidly in Angola, there is actually no stock market and as you can imagine, access to financial services is therefore limited.

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