New Asset Class

Banco de Fomento plans Angola’s first private credit fund to support diversification

By David Whitehouse

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Posted on September 15, 2023 04:00

Angola is trying to reduce its oil dependence. REUTERS/Ed Cropley

The bank is targeting foreign investors such as sovereign wealth and development funds to help Angola reduce reliance on oil.

Angola’s Banco de Fomento (BFA) is launching the country’s first private credit fund and seeking international investors ready to back diversification away from oil.

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