Paulo ALVES
Administrator
BANCO DE FOMENTO ANGOLA
Number of branches194
Number of customersAround 2.5 million
Number of corporate centres22
Number of investment centres 10
Established in 1990, Banco de Fomento Angola (BFA) provides financial services to private and corporate customers. It is the second-largest bank in Angola in terms of assets and has plans to further expand its scope of operations. The company implemented an oil and gas strategy in 2011 and looks to advance its relationship with the sector.
BFA has made major efforts to invest in digital innovations with its new mobile service platform and IT infrastructure to better service clients and grow within the local market.
Operational objectives: The bank aims to partner with international banks and participate in funding downstream oil and gas activities. Additionally, it is facilitating customer growth by digitalising processes for self-opened accounts.
Angola’s economy is once again growing after six years of recession, with the oil and gas sector as a main driver. However,…
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Natalino Lavrador, chairman of the board of Banco Comercial do Huambo (BCH), talks to The Energy Year about trends in the Angolan banking sector, challenges banks have…
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Paulo Alves, an administrator at Banco de Fomento Angola (BFA), talks to The Energy Year about Angola’s plan to use oil price yields to support economic…
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Luís Gonçalves, president of the executive commission of Banco de Fomento Angola (BFA), talks to The Energy Year about the impacts of the ongoing reform of Angola’s…
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