Ver Angola

Banking and Insurance

BDA opens new branch in Luanda

The Development Bank of Angola (BDA) has, as of this Wednesday, a new branch. The inauguration of the branch located in Luanda was carried out by the Minister of Economy and Planning, Mário Caetano João.

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To be supervised by the Luanda regional agency, this new BDA branch will have the function of facilitating the process of receiving, evaluating and responding to requests for financing sent to the banking institution, writes Angop.

According to Mário Caetano João, the BDA is becoming an "extremely fundamental" bank for the country's development. "The BDA is becoming an extremely fundamental bank for the development of Angola", he said, speaking to the press.

On the occasion, he also considered that the bank "has been demonstrating that it has the capacity to accompany the development of entrepreneurs", adding that the bank "had to adjust itself to finance small and medium-sized entrepreneurs".

The holder of the Economy and Planning portfolio also said that the banking institution, within the framework of the development of Angola process, has started a process of regionalization in some provinces, aimed at monitoring credit activities, writes Angop.

Mária Caetano João also considered that the bank still presents "many challenges", as it is "supporting many entrepreneurs".

"The BDA still has many challenges, because it is supporting many businessmen, it has lowered the level with small and medium businessmen", he said, quoted by Angop.

With the consent of new financial products, such as the fishing, grain and livestock production plan, there will be greater dynamics close to businessmen, he considered.

The bank's best effort to respond to the needs of entrepreneurs, providing access to financing for initiatives that should encourage the development of the economy, thus mirroring more offers in terms of jobs, was highlighted by Patrícia Vaz D'Almeida, chairman of the Executive Committee.

On the occasion, the official considered that the BDA will provide the "necessary assistance" to businessmen and companies seeking financing through the said agency. "The BDA will provide the necessary assistance to entrepreneurs and companies seeking bank financing through this agency," she said, quoted by Angop.

The inauguration of the new branch of the BDA – which also has regional branches in the provinces of Benguela, Lunda Sul, Huíla, Huambo, Uíge and Cabinda – was witnessed by Maria Bernardo do Carmo, president of the Board of Directors of the BDA, as well as members of the Board of Directors of the BDA.

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