Kassai was created by Gemcorp to mobilise national and international resources to finance the growth of the Angolan economy, “through investment in assets, projects and strategic opportunities, and by boosting the capital market and assessing the need for capital to support its growth”, a statement reads.
The appointment of Walter Pacheco and the launch of Kassai “mark an important step towards consolidating the Gemcorp Group’s strategy in Angola”, stresses the company, which aims to be “a relevant operator in the country’s capital market”.
The CEO of the Gemcorp Group, Atanas Bostandjiev, highlights in the same note that “Kassai will complement and strengthen the work done by Gemcorp Angola over the last ten years, a period in which it has contributed significantly to the country’s social and economic development”.
Gemcorp is involved in the construction of the Cabinda refinery (through Gemcorp Holdings), being the main shareholder, and is supporting the government in negotiations for a two billion dollar financing, reported the Portuguese newspaper Jornal de Negócios last week.
Gemcorp has been financing the state since 2015 with various loans and Angola represents a significant part of the fund's revenue stream.
