Angolan financial institution Banco BCS offers a variety of financial products that help drive oil and gas projects forward. The bank’s tailored financial services are designed to facilitate greater local participation in the Angolan market while strengthen regional trade and infrastructure development.

Sheila Barreto, Advisor to the Board of Directors, Banco BCS, explained that, “We have been supporting the sector for local businesses specifically, offering factoring products – such as payment for suppliers – and also purchasing debts to facilitate swift processes. We have international partnerships and make payments in foreign currency on behalf of clients.”

Angola’s stock exchange BODIVA highlighted an innovative approach for oil and gas companies to fund their activities: by listing on Angola’s stock exchange. The company plans to list at least ten companies by 2028. By listing, companies are able to strengthen their financial capacity in a market that it typically capital-intensive and complex.

Cristina Lourenco, Executive Director, BODIVA, shared that “One of the main instruments for companies is issuance of corporate debts. The equity market is also open and a viable opportunity for companies to list themselves. For example, we had an IPO with ACREP, which didn’t make it to the listing market, but they raised funds through capital markets. This is something other companies can resort to.”

Africa Finance Corporation (AFC) has long-played an instrumental role in driving Angolan oil, gas and infrastructure projects. The company recently backed Angola’s Cabinda Refinery – the country’s second operational facility and the first developed since independence. The facility came online on September 1. The AFC has also supported Etu Energias in its exploration strategy, providing $60 million to support merger & acquisition transactions.

Ibitola Ukabam, Vice President-Investment, AFC, said this transaction supports Angola’s goals to reverse production decline. He said: “Even with a few new projects coming onstream, by 2030, the one million bpd mark could be challenged if we don’t have significant intervention to bring more barrels onstream. For indigenous exploration and production companies, there are significant opportunities in terms of enhancing Africa’s energy security.”

However, for Angolan companies, seizing these opportunities comes with challenges. René Awambeng, Founder and Managing Partner, Premier Invest, shared that “The focus should be on how we find solutions for local companies to address issues around funding. There is a lot of opportunity [in Angola], but how do local Angolans get involved in this process? They need to build corporate structures and go through rigorous compliance. We also need to support our local banks, with both short-term and long-term liquidity. We need to see how we work with partner institutions to de-risk transactions.”

Meanwhile, leveraging its strong global footprint covering 143 countries, KPMG has established a strong presence in Angola. The company works closely with private and public companies to advance projects and unlock mutually-beneficial transactions.

Erik Lambert, Director, KPMG, highlighted how the company is supporting Angolan companies. He said: “We are investing in our practice in Angola but are really active across the deal cycle – helping foreign and domestic investors. We also assist with foreign currency management, which is a big challenge for many companies. Where there are issues around evaluation risks and taxes, we have a team that specializes in this.”