Guinea Bissau: Banco África Ocidental opens branches in Bafatá and Canchungo

26 May 2009

Bissau, Guiena Bissau, 26 May – Guinea Bissau bank, Banco da Àfrica Ocidental (BAO), which is majority-owned by Geocapital, a Macau-based company owned by gaming magnate Stanley Ho, Monday opened a branch in Bafatá in the east of Guinea Bissau, and another in Canchungo, in the north of the country.

During the openeing of the Bafatá branch, the director of the main retail bank in Guinea Bissau, Rómulo Pires, said that around 350 million CFA francs had been invested in the branch, located in the centre of Bafatá.

The national director of the Central Bank of West African States, João Aladje Fadiá, said that “the inhabitants of Bafatá can entrust their money to the BAO,” as his institution, “strictly supervises,” the country’s banking system.

Monday the BAO also opened a new branch in Canchungo, in the north of the country. (macauhub)

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