Upcoming Regulatory Changes & Consultations

Upcoming Regulatory Changes (2026)

Angola’s regulatory landscape continues to evolve as authorities implement reforms driven by FATF compliance, capital markets development, and economic diversification goals. This page outlines expected regulatory changes and consultations for 2026 and beyond.

Expected BNA Reforms

• Basel III Full Implementation: The BNA is phasing in Basel III capital buffer requirements, with the capital conservation buffer (2.5%) expected to be fully enforceable by end-2027. Banks will need to build additional capital buffers above the 10% minimum CAR.
• Digital Payment Regulation: New rules governing digital wallets, mobile money, and fintech payment services are under development, reflecting the rapid growth of non-bank payment providers.
• FX Market Deepening: Further measures to expand interbank FX market participation and reduce reliance on BNA auction mechanisms are anticipated.
• Macroprudential Framework: The BNA is developing a formal macroprudential policy framework, including countercyclical capital buffers and systemic risk indicators.

Expected CMC Reforms

• New IPO Listings: The CMC is expected to process prospectus approvals for additional BODIVA listings, potentially including Unitel and other state-owned enterprise privatizations.
• Market Making Framework: Rules to introduce market makers on BODIVA, aimed at improving liquidity in the 5 currently listed equities.
• ESG Disclosure: The CMC is consulting on environmental, social, and governance (ESG) reporting requirements for listed companies.
• CIS Regulation Update: Revised fund management regulations covering new fund types, including exchange-traded funds (ETFs) and infrastructure funds.

Expected ARSEG Reforms

• Solvency II Alignment: ARSEG is reviewing solvency requirements with a view to closer alignment with international solvency standards.
• Pension Fund Expansion: Regulatory measures to promote voluntary supplementary pension fund participation among formal sector workers.
• Microinsurance Framework: New licensing category for microinsurance products targeting low-income populations.

FATF-Related Reforms

• Beneficial Ownership Registry: Full operationalization of the centralized beneficial ownership register is expected in 2026, a key requirement for potential FATF grey list delisting.
• Enhanced STR Framework: The UIF is upgrading its suspicious transaction reporting system with improved analytics and cross-referencing capabilities.
• NPO Oversight: Risk-based regulation of non-profit organizations is under development.

Tax Reforms

• IAC Rationalization: The AGT is reviewing IAC rates across different asset classes, with potential harmonization of rates
• Digital Economy Tax: Rules for taxing digital services and electronic commerce are under consultation
• Tax Treaty Expansion: Angola is in negotiations for new double taxation agreements with additional trading partners

Consultation Calendar

For recently enacted changes, see recent regulatory changes. For all regulatory deadlines, see the regulatory calendar.