Ver Angola

Banking and Insurance

CGD president reaffirms the importance of the Angolan market

The chairman of the executive committee of Caixa Geral de Depósitos de Portugal reaffirmed this Wednesday, in Luanda, the importance of the Angolan market, where he intends to continue supporting projects for the construction of new infrastructure.

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Paulo Macedo was speaking to the press at the end of an audience granted by President João Lourenço, in which he presented the bank's plans for the country.

"This visit had several objectives, first, to greet the President of the Republic, the Banco Caixa Geral team here in Angola, since tomorrow is the general meeting, there is a new mandate, there is continuity of the team and also to present the plans the bank has, which is to continue to grow organically in Angola", said Paulo Macedo.

According to Paulo Macedo, to the head of state he reaffirmed that CGD, as a shareholder of Banco Caixa Geral de Angola, after a period of recapitalization and restructuring, maintained its presence in Angola, making itself available to study new projects.

"Angola has several infrastructure projects and here we have a few more projects that we are going to analyze and that we will now meet with the Minister of Public Works and other officials, to see how these projects can be supported", he stressed.

According to the chairman of the bank's Executive Committee, Angola plays an important role in the Caixa group, "since there are Portuguese companies, there is a Portuguese community, there is a role to play here".

"We came from other countries, where we thought there was no potential for the future and there was not a framework or a 'fit' as interesting as this and we see our presence here. Last year we grew about 20 percent in credit and we see here also an opportunity to grow, in addition to which we can also study and support other projects, namely through CGD in Lisbon", he highlighted.

Paulo Macedo stressed that the bank had already supported several other projects in the past, namely the Soyo project, which is under construction.

With a public and private recapitalization of around 4.9 billion euros, the bank has already returned part of that money to the State and to private investors, informed Paulo Macedo, predicting the total amortization for two years from now.

Paulo Macedo participates at the end of the day of the Caixa Meeting, organized by Banco Caixa Geral de Angola, an event at which the institution's main guidelines for the near future will be presented.

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