The Angolan government will privatize at least 30% of its stake in Banco de Fomento Angola (BFA) starting in September, officials confirmed on Wednesday.
Álvaro Fernão, Chairman of the Board of Directors of the Institute for the Management of State Assets and Participations (IGAPE), announced the plans following the public presentation of the Status of the Execution of the Privatization Program (PROPRIV) 2023–2026.
The sale will be open to both institutional investors and individual buyers, running from the first to the last week of September.
“It’s a large offering, and we hope it will lead to investors, not just institutional investors but also individuals, being able to purchase this asset. We’re expecting a major transaction.
It’s the largest we’ve ever had. By the end of September, we’ll be able to say how much we raised,” Álvaro Fernão said.
The planned placement will represent around 30% of BFA’s capital, including Unitel’s 15% stake and BPI’s “tag along” mechanism contributing roughly 14.5–15%.
The move is expected to be the largest stock market operation since the creation of Angola’s securities exchange, Bodiva, and is seen as a key opportunity to boost the country’s capital market.
Officials emphasized that the privatization aims to attract broad participation and generate significant revenue, though specific financial details will only be disclosed once the operation concludes.
The National Interministerial Commission for the Privatization Program (PROPRIV) has approved the schedule for privatizations extending through December 2026 and reviewed the balance sheet for the first half of 2025.
This landmark transaction is part of Angola’s broader strategy to strengthen the role of private investment in its banking sector, while providing opportunities for citizens and institutions to acquire ownership in one of the country’s leading financial institutions.
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