National Bank of Angola keeps “golden share” in interbank services company Emis

4 May 2015

The National Bank of Angola is expected to keep a residual interest in the capital of interbank services company Empresa Interbancária de Serviços (Emis), which manages the Multicaixa card and the automatic teller machines (ATM) network in the country, said the company’s chief executive.

José Gualberto de Matos told Angolan newspaper Expansion that the National Bank of Angola (BNA), currently with a 41 percent stake, would reduce that stake gradually to keep a residual interest, which would eventually be just a “golden share.”

The terms of the BNA’s removal from the company that manages the Multicaixa network and payment terminals (POS) in Angola, keeping a “golden share” (a small stake that still gives voting rights to its holder) “will also be discussed,” he said.

“The BNA was part of the launch of Emis, with 100 percent of the capital, to bolster it,” Matos recalled, noting that in order to have this stake the central bank had to receive special legislative authorisation, which led to creation of a vehicle company.

According to the Emis website, after the BNA, the shareholders with more than 4 percent of its capital at the end of 2013 were Banco de Fomento Angola, Banco de Poupança e Crédito, Banco BIC and Banco Angolano de Investimentos, and most of the remaining shareholding banks had stakes of less than 2 percent.

In 2014, according to the chief executive, the Multicaixa network grew by 24 percent to 2,627 machines, and the POS increased 60 percent to nearly 50,000 units. (macauhub/AO)