Africa-Press – Angola. Through the Privatization Program (PROPRIV), the Government will, begin the privatization of shares in Banco de Fomento Angola (BFA). The sales period will run from September 5th to 25th of this year. The sale price for each share ranges from 41,500 kwanzas to 49,500 kwanzas.
There are a total of 4.46 million ordinary shares that BFA makes available to the capital market for Public Offering (OPV).
Of this number, which represents 29.75 percent of the shares for sale, 15 percent come from the operator UNITEL and another 14.75 percent from Banco Português de Investimento (BPI). The Bank also made 2 percent available exclusively to employees.
According to the Chairman of the Board of Directors (PCA) of the Institute for the Management of State Assets and Participations (IGAPE), Álvaro Fernão, who was speaking during the Roadshow with investors that took place yesterday in Luanda, the decision to privatize part of the bank’s shares through the Privatization Program (PROPRIV) represents a sign of confidence in the bank’s potential with the aim of prospering, increasing the openness and competitiveness of the Angolan capital market.
“This is a process that goes far beyond capital market transactions, but which embodies the values that guide PROPRIV, namely transparency, equity, and free competition, reinforcing the Angolan government’s commitment to promoting sustainable economic growth,” he said.
For Álvaro Fernão, privatization will create investment opportunities for both small subscribers and institutional investors, stating that it is a sign that Angola is revitalizing the capital market, transferring ownership, generating liquidity, and expanding the investor base.
The Chairman of IGAPE assured that the launch of BFA’s IPO proves that, despite being a young market, the Angolan capital market has the potential for growth and profitability of investments.
Positive results
The president of the BFA Executive Committee, Luís Gonçalves, said that the bank has had good results in recent years and highlighted the institution’s growth trajectory, showing confidence in the success of the Public Offering (OPV) that starts today.
“There’s no certainty about the operation’s success, but our expectations are high. From the conversations we’re having with investors, we can see there’s an appetite for this operation,” he said.
When asked about the institution’s results for this year, the PCE said that BFA’s results in 2024 include a profit of 207.8 billion kwanzas, which, according to Luís Gonçalves, represented an increase of 24 percent compared to 2023, making the bank the most profitable in Angola last year.
“If we reach the maximum placement value, the expectation is that we will be able to raise more than 200 billion kwanzas,” he said.
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