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Angola: Millennium Angola Can Become Referencein Country
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Angola Press Agency (Luanda)
15 May 2008
Posted to the web 16 May 2008
Luanda
The chairman of Angolan oil company (Sonangol)'s managing board, Manuel Vicente, wants the Millennium Angola Bank to become a reference in the country's financial market, taking into account the country's development challenges.
Manuel Vicente was speaking at the ceremony of signing of a partnership accord between Sonangol, the Banco Comercial Português (BCP) and the Banco Privado Atlântico (BPA).
The accord is meant for Sonangol and BPA to acquire 49,9 percent of the capital of Millennium Angola.
The Angolan official said it is not Sonangol's intention to increase its actual 9,96 percent share with the BC.
But he said that as part of the Angolan State's policy, Sonangol will acquire 49,9 percent of the capital of the Banco de Fomento Angola, a bank owned by the Portuguese group (BPI) and other banking institutions from that European country that operate in Angola.
According to Manuel Vicente, the entry of Sonangol into the capital of those two Portuguese financial institutions is intended to boost the growth of those banks and give Angolans more opportunities.
To BCP-Millennium managing board chairman, Carlos Santos Ferreira, who attended the ceremony, the partnership with Sonangol has a particular significance as, he added, it is a suitable partner and the country has an economy currently recording a steady growth.
Millennium Angola started its activity in Angola two years ago, with its capital held mostly by BCP.
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The accord was signed by the chairmen of the managing boards of Sonangol, BCP and BPA, Manuel Vicente, Carlos Santos Ferreira and Carlos José da Silva, respectively.
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