Banco Espírito Santo Angola opens seven more branches

8 July 2013

Angolan bank Banco Espírito Santo Angola (BESA) Friday opened another seven branches, thus increasing its network to 54 branches across Angola, the bank said in a statement issued in Luanda.

The new branches were opened in Avô Kumbi plaza, Viana Park, Filda and Cacuaco (Luanda), at Lubango Centre (Lubango), at the Benguela Railroad (Lobito) and in Catete (Bengo).

According to the published statement, by the end of the year the bank plans to have a network of 70 branches as well as to open six business centres.

BESA was officially founded in August 2001 and currently has capital of US$170 million. It started operating on 24 January 2002 in Luanda.

At the end of June, BESA announced that Paulo Kassoma, Angola’s prime minister from 2008 to 2010, would become the bank’s non-executive president.

The former prime minister’s name was put forward by BESA’s Angolan shareholders, Portmill and Geni, which own 24 percent and 18.99 percent of the bank, respectively.

Kassoma, who will replace Álvaro Sobrinho, is currently a member of parliament and was also previously governor of Huambo province and president of the National Assembly (Angola’s parliament). (macauhub)