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Article: Supplement: Angola - Banks Play Catch-up As Angola Blossoms - Strong Growth And An Influx Of Foreign Players Mean Angola's Fledgling Banking Sector Is Facing Many New Challenges. Charlie Corbett Canvassed The Chief Executives Of Some Of Angola's Biggest B.
- Article from:
- The Banker
- Article date:
- August 1, 2008
- Author:
CopyrightCOPYRIGHT 2008 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: CHARLIE CORBETT
Towards the end of last year, Angola's largest private bank by assets, Banco Africano de Investimento (BAI), raised $1bn for the government's reconstruction of the nation's infrastructure. It was a landmark transaction that attracted support both locally and from across the world. Investors from South Africa, Portugal and the UK were, in the words of BAI chief executive Jose de Lima Massano, literally begging to participate.
"It was our biggest transaction ever. No other bank that I know of in Africa has achieved what we did," he says.
The loan was one of a string of deals the bank pulled off last year, which included a ...
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