Africa-Press – Angola. Angola is the first country in the world to receive investment from the African Bank of Oman (ABO), a branch of the Sultanate of Oman, with an investment of over 18 billion kwanzas of its share capital, according to the president of the Executive Committee of this banking institution in Angola, António Mendes.
According to António Mendes, the bank’s initial strategy involves attracting clients and establishing a financial corridor between Angola and the Middle East, particularly Oman, Abu Dhabi, Dubai, and Saudi Arabia, aiming to attract Arab investors.
He emphasized that, in the short term, the bank will prioritize the corporate and business segment, while in the medium term, the institution aims to expand into the retail and individual sectors, bringing Oman’s successful experience in terms of financial inclusion and banking access for the population.
Asked about access to credit for national companies, the president of the Executive Committee clarified that the bank will act, in the first phase, as a project advisor.
He said the focus involves helping investors structure their business models so that they become bankable, facilitating connections with other banks in the local and international market.
Regarding the audience with the Minister of State for Economic Coordination, he said that it served to exchange views on the trajectory of Oman, whose economy is also heavily dependent on oil and gas, but which has managed to advance in economic diversification.
“We want to support the Angolan Government with our experience and knowledge to accelerate Angola’s economic diversification initiatives”, he added.
He reinforced that the presence of an Omani capital bank in Luanda sends a positive signal to the press and international markets about Angola’s potential.
He said that, at this embryonic stage, the African Bank of Oman operates with a branch in Luanda, anticipating the growth of its service network as the business volume and customer base expands.
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