Banking in Angola requires that you have a good knowledge about the country's financial system. Angola is home to many banks, including many privately owned, often international banks, and several government banks. These banks cover most banking needs, but knowledge of Angola banking is necessary to successfully work the system.

Banks in Angola can be used by U.S. companies, but there are special issues that you need to address when you deal with them. Due to the prevalence of the oil industry, there is a great deal of business banking in Angola, but foreign investors need to research regional banking thoroughly before they begin to invest.

Banking in Angola can also be difficult due to the overall financial infrastructure of the country. Due to a lengthy civil war that only ended in 2002, Angola's financial sector is shaky and time-consuming. Investors need to leave ample time for banking and business concerns.

Keep the following in mind when looking for Angola banks:

1. Look at commercial banks in Angola that will meet your specific needs.

2. Make sure you know regulations for foreign investing before banking in Angola.

3. Compare banks of Angola to find the right bank for you.

Action Steps
The best contacts and resources to help you get it done

Look for general financial information about Angola banks

Information about the Angolan banking industry can be gathered from sources like the Angolan government, as well as from other, non-government sources.

I recommend: The Angola central bank, Banco Nacional de Angola, has general financial information about Angola, although only in Portuguese. United World offers an English-language article on banking in Angola, with links to different banking sites.

Find bank listings to find the right Angolan banks for your needs

With very different types of banks in Angola, it is important to check out several different banks before starting any Angola banking. Due to the poor infrastructure of the Angolan economy, several banks fail to maintain active websites. You will need to contact them via mail or telephone to get more information.

I recommend: Economy Watch provides a short list of the major Angolan banks. A list of banks, including addresses, is given by the American embassy in Angola. The American embassy also provides basic banking information, rules and bank comparisons.

Learn about government regulations on foreign Angola banking and investing

After a long civil war, Angola is greatly dependent on foreign aid and investment. As a result, regulations regarding foreign investment tend to be favorable.

I recommend: The U.S. embassy in Angola gives information on the financial and economic situation in the country, including banking regulations. The Angolan embassy in Dubai offers a detailed description of investment procedures in Angola. The International Finance Commission gives detailed information, including timetables and costs, on starting a business, getting credit and international trade in Angola.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Keep in mind that it is often not recommended for foreigners to use Angola banks and that high-tech banking is often unavailable. It is also important to keep in mind that foreign businesspeople involved in international banking in Angola must follow government regulations.