The Angolan banking sector is undergoing significant restructuring, with business groups considered close to President João Lourenço’s inner circle assuming strategic positions in the country’s main financial institutions.
After the Carrinho Group, led by Nelson Carrinho, bought the Banco de Comércio e Indústria (BCI) and secured majority ownership of Banco Keve — a new offensive is now underway: Gemcorp Capital.
According to reliable sources, Kassai Capital, the asset management company of the Gemcorp group, has just closed a strategic agreement that gives it more than 70% of the capital of Banco de Negócios Internacional (BNI Angola). The transaction is still pending final regulatory approval, but represents a new stage in the dominance of the banking system by groups with ties considered close to the Executive.
Gemcorp, seen as one of the “stars” in public procurement during João Lourenço’s era, is already present in Banco Atlântico and may increase its stake in that bank, which is facing financial difficulties, with clear signs of pre-bankruptcy. There is news that Gemcorp has also expressed interest in acquiring the position in BFA.
Tulumba enters the race for BFA
The businessman Silvestre Tulumba, a figure close to the presidency, who already controls Banco de Crédito do Sul (BCS) and Banco Valor, is in a prominent position: he has expressed interest in both BFA and Unitel itself, the operator that holds 51.9% of BFA, according to the press.
Other figures with direct influence in banking
António Mosquito – a prominent investor in the banking sector: holds stakes in Banco Comercial Angolano (BCA) (1.82%), Banco Sol (6.33%), Caixa Geral Angola (BCGA) (12%), and has about 19.5% in Banco Caixa Geral Transações Angola (BCGTA).
Sebastião Bastos Lavrador – former governor of the BNA, is Chairman of the Board of Banco BIC Angola, where he holds about 5% of the capital, in addition to holding around 5.5% in Banco de Comércio e Habitação (BCH).
Mário Abílio Moreira Palhares – former key shareholder of BNI Angola (54%) before the entry of Gemcorp; also held 35% of Finibanco Angola (now Access Bank Angola) and 5% in BAI.
25/06/2025
