Angola: Millennium Angola invests over US$200 million in expanding its services

26 February 2009

Luanda, Angola, 26 Feb – Angolan bank, Millennium Angola plans to invest, over the next three years, over US$200 million in expanding its banking network and improving its services, the chairman of the bank’s board, Armando Vara said Wednesday in Luanda.

On the sidelines of a press conference to announce the financial transactions related to Sonangol and Banco Privado do Atlântico taking a share in Millenium Angola, Vara said that the investment carried out was aimed at consolidating the bank’s position in the Angolan market.

Songola will have 29.9 percent of Millennium Angola and BPA will have a 20 percent stake.

According to Vara, with the injection of new capital, BMA will create 1,000 more jobs and work on consolidating its brand in the Angolan market, which is secure and credible on every level.

Millennium Angola has branches in six of Angola’s 18 provinces, namely in Luanda, Benguela, Huambo, Zaire, Huíla and Cabinda.

BMA, which was founded in April 2006, was created by transforming the Luanda branch of Banco Comercial Português into an Angolan bank.

Millennium Bcp has been part of the Angolan financial system since 1993, first via Banco Português do Atlântico and currently via the Millennium bcp brand. (macauhub)