Banco Sol launches services in Mandarin to attract Chinese residents in Angola

14 August 2017

Angolan bank Banco Sol agreed to a request by the China-Angola Chamber of Commerce to open personalised service counters in Mandarin to attract the Chinese population living in Angola to the banking system, state newspaper Jornal de Angola reported.

The request was made by the president of the chamber of commerce, Manuel Calado, during a seminar on “Business Development and Partnerships” sponsored by Banco Sol.

Calado said that Chinese residents have great difficulty in opening accounts at Angolan banks, and this business opportunity led Banco Sol to create specialised services that work and offer products in the Chinese language and physical protection of customers during operations.

“We are working with the national banks to begin opening agencies for the Chinese community with some security, ease of communication and the launch of credit lines for young Angolans interested in acquiring housing in projects promoted by the Chinese,” said Calado.

The chairman of the Angola-China Chamber of Commerce added that Chinese companies have a large supply of housing and real estate in Angola, but they are unable to sell it because young people have financial difficulties, and therefore there are plans underway for an agreement with Banco Sol to provide loans to interested parties.

At the end of the seminar, the chairman of the China-Angola Chamber of Commerce said Chinese entrepreneurs in the commercial, industrial and agro-livestock sectors have US$6 billion available to invest in Angola.

Calado also said that the amount announced is independent of the financing agreements between the governments of the two countries. (macauhub)