Africa-Press – Angola. Banco Sol and the Association of Companies Providing Services to the Oil Industry of Angola (AECIPA) recently signed a strategic partnership to strengthen companies’ access to financing in the oil industry.
The agreement establishes a framework for institutional and operational cooperation between the two entities, focusing on developing specific financial solutions for member companies. These solutions include cash advances, foreign exchange hedging, opening import credit lines, and equipment financing.
The agreement also promotes financial and business capacity-building initiatives and facilitates access to banking services tailored to the oil sector’s demands. According to a statement from Banco Sol, the agreement strengthens the bank’s position as a financial partner of companies integrated into the AECIPA ecosystem.
According to the statement, the agreement is part of Banco Sol’s strategy to expand its customer base, particularly in the oil sector. Those customers will now have the specialized support of the institution’s Oil and Mining Desk.
Osvaldo de Lemos Macaia, Chairman of the Executive Committee of Banco Sol, and Braulio de Brito, CEO of AECIPA, signed the agreement as part of the strategy to strengthen the financial capacity of AECIPA’s members.
The CEO of Banco Sol said the initiative is part of the commercial development strategy that the institution has been implementing, primarily with the oil and gas sector.
The AECIPA CEO, on his turn, described the agreement as an important step for service providers in the Angolan oil industry and a contribution to local content development.
More than 200 AECIPA members will now have access to a broad portfolio of financial solutions, including the “Kilapi” product aimed at strengthening corporate cash flow.
