Atlantico eyes Angola-Namibia business links

THE Angolan banking group, Atlantico, which opened its first international branch in Windhoek this week plans to take advantage of close trade links between Angola and Namibia, executives said.

In an interview on Monday, CEO Diogo Cunha said the proximity of Namibia to Angola was one of the main reasons the bank had invested in the country.

Natalia Oliveira of Atlantico Namibia said opportunities of trade between the two countries exist in areas like health, education and in export and imports.

Cunha said the bank plans to expand in Namibia as well as in neighbouring countries in phases.

The bank also plans to open a branch in Maputo, Mozambique in the first quarter of next year, Cunha said.

“We like having a stronger local presence. What we do in Lisbon, is what we will do here in Namibia,” said Cunha, explaining that the services provided by the bank are the same wherever it operates.

Atlantico was recently issued a banking licence by the Bank of Namibia. Atlantico Namibia is an international branch of Atlantico Europa.

Chairman of Atlantico Carlos Silva said the launch of Atlantico Namibia reinforces the ambition to develop a multi-geographical financial group, increasing investment opportunities and trade flows between Angola, Namibia and the rest of the world.

“Atlantico Namibia aims to become an active contributor towards the development of Namibia through the delivery of state-of- art products and services specifically designed to address the needs of the Namibian economy,” Silva said.

The bank says it is well-positioned to be a key player in the intermediation of capital flows and investment between Namibia and international markets.

“This includes expanding investment opportunities for Namibian companies into Portuguese-speaking countries, the Southern African Development Community and the European Union,” Silva said.

Atlantico is a privately owned bank with its head office in Luanda, Angola.

On 30 June, Atlantico reported US$3,6 billion worth of net assets, US$2,8 billion in total client deposits and US$45 million in net income.

The bank is owned by Global Pactum (72,3%) and Banco Millennium Angola (6,7%) and its management team (21%).

The bank expanded to Europe in 2009.

Speaking at the inauguration ceremony on Monday, Portugal’s ambassador to Namibia, Helena Alexandra Andrade Furtado de Paiva, said it is good to operate in a country like Namibia because of its good business environment; developed financial sector and high Gross Domestic Product (GDP).

She said the aim of the bank is to become an active contributor towards the development of Namibia through the delivery of state-of-the-art products and service specifications designed to address the needs of the Namibian economy.

Charge de affairs at the Angolan embassy in Namibia, Guido Castelo Branco said the opening of the bank should be supported and maintained in order to strengthen business activities between the two countries.

Deputy prime minister and minister of international relations and cooperation Netumbo Nandi-Ndaitwah welcomed the opening of the bank, saying it will create jobs and contribute to the fight against poverty in Namibia.

Nandi-Ndaitwah said the opening of the bank will provide an opportunity for skills transfer and skills development in the country.

“We are happy you join us in the war against poverty. I believe that your bank will develop other branches elsewhere in the world,” she said.

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