Angola: BDA and Sol banks sign cooperation agreement

5 December 2008

Luanda, Angola, 5 Dec – Angolan bank, Banco de Desenvolvimento de Angola (BDA) Wednesday in Luanda signed a financial convention with Banco Sol, to allow customers of the latter to have access to the resources managed by the BDA.

Based on the agreement, which will be applied starting in 2009, Banco Sol will sell BDA’s financial products, with the aim of making it easier for national investors to have access to credit, according to Angolan news agency Angop.

After signing the deal, the chairman of the board of BDA, Paixão Franco, said that the partnership established with Banco Sol would make it possible to extend the BDA’s penetration to the interior of the country, via the branches of Banco Sol.

The chairman of the executive commission of Banco Sol, Coutinho Nobre Miguel, said that the partnership would make it possible for his bank to be an operator for the BDA, a bank created by the state to structure medium and long term operations.

The BDA, which was set up in June 2006, is used to finance the development of the national economy, especially investments in the private sector, especially those linked to production. (macauhub)