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Bank of China to act as strategic partner in Angola business support centre

Bank is already financing projects connected to Angola’s import substitution plan and agriculture.

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PUBLISHED

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Bank is already financing projects connected to Angola’s import substitution plan and agriculture.

ARTICLE BY

PUBLISHED

READING TIME

Less than 1 minute Minutes

UPDATED: 22 Dec 2023, 4:46 am

Bank of China (BoC) will act as a strategic partner in Angola’s new business support centre, allowing businesses access to multiple state services.

The project will be implemented under a new partnership agreement between BoC and the Angola-China Chamber of Commerce in the capital Luanda, according to public broadcaster TPA.

Luís Cupenala, chairman of the chamber, said that BoC will be a strategic partner in Angola’s new centre for business support, integrating various state services in Luanda.

BoC Luanda officials quoted by TPA said the bank is already financing projects connected to Angola’s import substitution plan and agriculture and that one of its main goals is to finance Chinese projects and business in the African republic, fostering the diversification of the local economy.

BoC’s Angola branch was launched in 2017, focusing on supporting Chinese business in the country.

 

UPDATED: 22 Dec 2023, 4:46 am

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