Angolan Banking and Insurance Draws Chinese Attention

 

Chinese businessmen have shown interest in the privatization in Angola of BCI bank and insurance company ENSA.

Chinese businessmen who participated in a recent videoconference presentation of Angola’s Privatization Program (Propriv), inquired about the model for the sale of the bank and the insurer and whether tax incentives are foreseen, in general, as well as for operations through the Angola Debt and Stock Exchange (Bodiva), according to State-owned newspaper Jornal de Angola.

Other focuses are related to possible limits on the formation of mixed capital companies in sectors such as oil and gas, and that other companies can still be included in the Propriv program.

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In the three-hour meeting, organized by the State Asset Management and Participation Institute (IGAPE) with the participation of around 100 Chinese business representatives, the Minister of Finance, Vera Daves, and the Chinese ambassador, Gong Tao, agreed on the prevalence of solid trade between the two countries.

The executive director of IGAPE Augusto Kalikamala, the chairman of the Board of Directors of Bodiva, Walter Pacheco, as well as the representatives of Sonangol Alexandre Santos and Daniela Matos, presented aspects of the program to the Chinese businessmen.

IGAPE is engaged in a cycle of Propriv presentations that began on 28 July with Portuguese investors, with another four meetings planned until the end of the year, with investors from the United States, Spain, Germany and the United Kingdom.

 

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