Ver Angola


French bank considers Angola a safe country to invest in

The French bank Société Générale considered that Angola is a safe country to invest in. The information was expressed by Carlos Santos, executive president of the institution, who was speaking on the sidelines of the seminar “Financing of Petroleum and Mining Projects”.


The official, quoted by the newspaper Mercado, clarified that the reforms carried out in the oil and gas sector turned Angola into one of the African countries with the lowest risk for investments.

Carlos Santos, who is also the representative of Société Générale in Southern Africa, recalled that the bank has a vast curriculum of cooperation with the Ministry of Finance and the oil company Sonangol in the allocation of financing. However, opening up to the private sector is only possible because of the improvement in the business environment, after the complicated scenario of the pandemic, he added.

The bank's executive chairman also said that they have "various types of financing in our portfolio, whether for projects in the Oil & Gas area or in mining", adding that "the procedures are the same as in all countries, including in Europe, which includes project sustainability and other guarantees of compliance, with more than a billion dollars being available in a first phase".

In turn, José Barroso, Secretary of State for Oil and Gas, speaking at the opening of the seminar – organized by the National Agency for Oil, Gas and Biofuels in partnership with Société Générale – considered that the optimization of companies operating in the sector oil sector takes place with its independence in the international financial market, with a view to overcoming the obstacles linked to the new model of energy transition.

Also quoted by Mercado, the secretary admitted that global warming "is a fact" and that the energy transition "is necessary and inevitable".

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