Country Awards for Excellence 2023: Africa
Best Bank: Banco Angolano De Investimentos
Best Investment Bank: Standard Chartered Angola
Advantageous financial services reforms, abundant natural resources and a young population means there is plenty of potential for long-term economic growth in Angola. The banking sector is dominated by six large lenders, with very little competition from non-bank institutions.
Banco Angolano de Investimentos (BAI) remains Angola’s leading private-sector bank. It has been pursuing a consolidation strategy that is now yielding encouraging results. Last summer’s initial public offering of 10% of the business raised NKz40.1 billion ($60 million).
The deal was the first IPO in Angola and preceded the launch of the stock exchange after a decade of anticipation. BAI also became the first bank to conduct a transaction on the Angolan exchange.