With the right to appoint only one board member, the Benguela-based group now has two executive directors safeguarding its interests at Banco de Fomento Angola (BFA). The planned increase in its shareholding is expected to come through the secondary market and the sale of shares held by Portugal’s BPI.
Less than a year after indirectly entering the shareholder structure of Banco de Fomento Angola (BFA), Carrinho Group has consolidated its influence within the institution. The group now has two directors aligned with its interests represented in the bank’s management bodies and is preparing to strengthen its shareholding position.
As Valor Económico reported earlier this year, despite successive negotiations involving the business group, the departure of then-Chief Financial Officer Francisca Costa was ultimately confirmed, along with the appointment of Portuguese national João Gonçalo Lourenço de Jesus as Financial Director.
João Gonçalo Lourenço de Jesus had served as an advisor to the Board of Directors of Banco de Comércio e Indústria (BCI) since Carrinho Group assumed control of that banking institution.
Although the group was formally entitled to appoint only one director, sources close to the process state that it also influenced the selection of a second member of the Executive Committee. This was Nelson Rodera Monteiro, who prior to his appointment served as Executive Director of Banco Keve, another institution controlled by the business conglomerate.
According to sources in the financial sector, the presence of these two directors strengthens the group’s ability to influence the bank’s strategic decisions at a time when Carrinho continues to evaluate ways to increase its shareholding in the institution.
To avoid a concentration scenario within the financial system, given that it already holds controlling positions in other banking institutions, as well as interests in the insurance sector and securities brokerage activities, the group transferred its stake in BFA to the Closed-End Securities Investment Fund for Shares, Private Subscription (AXIOS), and to the Closed-End Securities Investment Fund (ASSET).
Under this structure, the investment vehicle that includes Congolian Financial now controls 9.85% of BFA’s shares.
According to sources close to the group, the current strategy is to increase its ownership stake through the acquisition of additional shares. One option under consideration is the purchase of part of BPI’s holding, which currently represents 33.35% of the bank’s capital, should CaixaBank proceed with a possible divestment of that stake during the current financial year.
The same sources argue that this route would be financially more attractive than acquiring shares dispersed across the secondary market. However, market sources consulted by Valor Económico maintain that any future increase in Carrinho’s position is more likely to occur through the purchase of shares currently held by private investors.
At present, BFA’s shareholder structure is led by Unitel, which holds 36.9% of the bank’s capital, followed by BPI with 33.35%. The remaining 19.90% is distributed among other shareholders.
Jornal Valor Económico, 06/10/2026
