Investment Comparison Table
Compare returns across all Angolan investment products side by side.
This calculator is being enhanced with full interactivity. Current data is provided for reference.
The spread between Angola’s highest-yielding and lowest-yielding instruments currently exceeds 800 basis points, ranging from approximately 8.5% on USD-indexed sovereign bonds to over 16% on medium-term Kwanza treasury bonds (Obrigacoes do Tesouro). With the BNA base rate (taxa basica) at 17.5% following the January 2026 cut and inflation at 15.7% (INE, December 2025), choosing the right instrument – or the right combination – is a decision with real consequences for purchasing power.
What This Tool Does
The Side-by-Side Investment Comparison Table displays all major Angolan investment instruments on a single screen, standardized across the metrics that matter most: nominal yield, real return after inflation, tax treatment under the Imposto sobre a Aplicacao de Capitais (IAC), minimum investment threshold, liquidity profile, and currency denomination. Rather than toggling between product pages, you can evaluate every option simultaneously.
How to Use It
- Review the pre-populated comparison table below, which reflects current market conditions as of early 2026.
- Sort by any column by clicking the column header – sort by yield to find the highest-paying instruments, or by real return to identify which products actually grow your purchasing power.
- Filter by risk level using the dropdown to narrow results to conservative (government securities only), moderate (including bank deposits), or aggressive (including equities).
- Click any instrument name to navigate to a detailed analysis page or to add it to your Watchlist.
Current Angola Investment Landscape: Comparison Table
| Instrument | Nominal Yield | IAC Tax | After-Tax Yield | Real Return* | Min. Investment | Liquidity | Currency |
|---|---|---|---|---|---|---|---|
| Treasury Bill (BT, 91-day) | 14.8% | 10% | 13.3% | -2.1% | Kz 100,000 | High | AOA |
| Treasury Bill (BT, 364-day) | 15.5% | 10% | 14.0% | -1.5% | Kz 100,000 | Moderate | AOA |
| Treasury Bond (OT, 2-year) | 15.8% | 10% | 14.2% | -1.3% | Kz 500,000 | Moderate | AOA |
| Treasury Bond (OT, 3-year) | 16.2% | 10% | 14.6% | -1.0% | Kz 500,000 | Low-Moderate | AOA |
| Treasury Bond (OT, 5-year) | 16.8% | 10% | 15.1% | -0.5% | Kz 1,000,000 | Low | AOA |
| USD-Indexed Bond (OT-NR) | 8.5% + FX | 10% | 7.7% + FX | Depends on FX | Kz 5,000,000 | Low | AOA/USD |
| Bank Term Deposit (12-mo) | 11-13% | 10% | 9.9-11.7% | -3.5 to -5.0% | Varies | Low | AOA |
| BODIVA Equities | Variable | 10% (gains) | Variable | Variable | Market price | Very Low | AOA |
Real return calculated using the Fisher equation: (1 + after-tax yield) / (1 + 15.7% inflation) - 1.
Key Takeaways from the Current Comparison
Negative real returns dominate the short end. At 15.7% inflation, even the 14.8% yield on 91-day treasury bills delivers a negative real after-tax return of approximately -2.1%. This is the core challenge facing Kwanza-denominated savers in the current environment.
Longer duration offers some relief. The 5-year OT at 16.8% nominal narrows the real return gap to approximately -0.5% after tax. If the BNA’s easing cycle continues and inflation trends toward single digits as targeted, today’s 5-year bond buyer could lock in a meaningfully positive real return over the holding period.
USD-indexed bonds serve a different purpose. The OT-NR and OTRV series pay lower nominal coupons (8.5-9.0%) but compensate through currency protection. At the current USD/AOA rate of ~914.60, any Kwanza depreciation during the holding period accrues as additional return for the bondholder, effectively transforming these into dollar-denominated instruments with Angolan sovereign credit risk.
Bank deposits lag significantly. Commercial bank term deposits offer 11-13% – well below government securities and deeply negative in real terms. They remain relevant only for investors prioritizing deposit insurance and banking relationship maintenance.
For instrument-level modeling, use the Bond Calculator to price specific OT series, the Real Return Calculator to stress-test inflation assumptions, and the Asset Allocation Optimizer to build a portfolio blending these instruments. The FX Converter is essential for translating Kwanza returns into USD equivalents for international investors.