BIC provides funding of over US$100 million in Angola’s Huíla province

13 April 2010

Lubango, Angola, 13 Dec – Angolan bank, Banco Internacional de Crédito (BIC) over the last four years has provided funding of over US$100 million for agri-livestock, retail, cHuíla province according to a report from Angolan news agency Angop.

The chairman of the board of BIC, Fernando Teles, said that the bank had also funded projects in the hotel and tourism and telecommunications sectors.

Teles noted that BIC planned, in Huíla province, to expand its services to the interior of the province given its potential in the areas of agri-livestock, retail, hotels and tourism, which have attracted several investors.

“We know that Huíla is, after Luanda, the province with greatest potential in terms of investments, so we want to apply all our services, in order to get a return on the bank’s financial capital,” he noted.

In huíla BIC has nine branches, four of which in the city of Lubango, one in Jamba, one each in Caluquembe, Humpata, Matala and Quilengues, and more branches are due to be opened in the province’s remaining municipalities.

He said that the projection for investment in loans would rise from US$2 to US$3 million, mainly to customers who request loans for the hotel and toruism, retail and telecommunications sectors.

BIC has 130 branches in Angola and over 450,000 customers. (macauhub)