The Angola Capital Markets Commission has approved the registration of the Económico – Securitisation Investment Fund, a privately subscribed fund promoted by IFA – Sociedade Gestora de Organismos de Investimento Colectivo, S.A. It is the first securitisation investment fund registered by the regulator and is designed to acquire and manage rights under distressed loan contracts held by Banco Económico, S.A. as part of the bank’s economic and financial clean-up process. The fund’s investment policy focuses on acquiring assigned credit rights originating from loans that are in default or fully provisioned, alongside associated ancillary rights and collateral, including mortgages, pledges, sureties, sovereign guarantees and other collateral. It may also receive proceeds from enforcement actions or the sale of collateral carried out on the fund’s behalf, without direct incorporation of the underlying assets into the fund, and can hold cash, bank deposits, certificates of deposit and Angolan state-issued or state-guaranteed securities with residual maturity of less than 12 months. Independent Finance Advisors - SGOIC, S.A. will act as the management company, with Banco Económico, S.A. as depositary.
Angola Capital Markets Commission 2025-12-24
Angola Capital Markets Commission approves registration of the Económico securitisation investment fund to acquire Banco Económico distressed credit rights
The Angola Capital Markets Commission approved the registration of the Económico – Securitisation Investment Fund, the first of its kind. Managed by Independent Finance Advisors - SGOIC, S.A., the fund will acquire and manage distressed loan rights from Banco Económico, S.A. as part of the bank's financial clean-up. It will focus on credit rights from defaulted loans and associated collateral, while holding cash and short-term Angolan state securities.