Angola’s Ministry of Finance, through remarks delivered by the Chairman of the Board of Directors of IGAPE, framed the planned public offering for sale of a stake in BFA as a key step in strengthening Angola’s capital markets and as part of the PROPRIV 2023–2026 privatisation programme. The transaction will place 29.75% of BFA’s share capital on the market, comprising 15% held by UNITEL and 14.75% held by BPI, corresponding to more than 4.4 million shares. The intervention positioned the offer as a signal of transparency, fairness and competition, argued it should be seen as a vote of confidence in BFA rather than a divestment, and linked the initiative to wider reforms cited as improving access to credit, protecting minority investors and strengthening legal certainty, including factors referenced in Angola’s selection by the World Bank for a business environment assessment pilot project.
Ministry of Finance (Angola) 2025-09-04
Angola’s Ministry of Finance highlights public offering to privatise 29.75% of BFA under the PROPRIV 2023–2026 programme
Angola's Ministry of Finance announced a public offering for 29.75% of Banco de Fomento Angola (BFA) as part of the PROPRIV 2023–2026 privatisation programme. The offering, involving shares held by UNITEL and BPI, aims to bolster Angola's capital markets and is positioned as a vote of confidence in BFA. The initiative is linked to broader reforms enhancing credit access, investor protection, and legal certainty.