Banco Africano de Investimentos opens four new branches in Cape Verde in February

22 February 2010

Praia, Cape Verde, 22 Feb – Banco Africano de Investimentos (BAI) Cabo Verde, whose majority stakeholders are BAI Angola and Sonangol, opened two new branches on Sal and Sao Vicente islands last week, after opening two others at the start of the month in Praia.

BAI opened the two branches in the Cape Verdean capital on 2 February as part of its growth and consolidation strategy and with a view to bringing the bank closer to customers.

The new openings, with the most recent last Friday in Mindelo (Sao Vicente), brings the number of branches of Cape Verde’s newest financial institution up to seven – three in Praia and two each on Sal and Sao Vicente, said the BAI’s communication director, Margarida Mascarenhas.

BAI Cabo Verde has a share capital of 90 million euros. Its shareholders are BAI Angola, with 71 percent, Sonangol Cabo Verde (a subsidiary of Angola’s Sonangol oil company) with 19 percent and the Cape Verdean company Sogei with 10 percent. (macauhub)