BFA Bank Manager Advocates for Investment Funds as Financing Alternative

Luanda: Rui de Oliveira, president of the Executive Committee of BFA (Asset Management), advocated for the use of investment funds and the secondary market through the stock exchange as alternative sources of financing for various sectors of the national economy, alongside traditional banking methods. He made this statement in Luanda on Thursday, during the Sustainable Investment Summit in Africa, which is being held from November 26 to 28. According to Angola Press News Agency, de Oliveira emphasized that banking should not be the sole avenue for financing companies and driving the economic development of the country. He suggested that exploring additional alternatives is crucial to overcoming the financial challenges faced by different sectors. He highlighted the potential to support micro-enterprises throughout their life cycle by leveraging other financial resources. De Oliveira also mentioned BFA's initiative, the 'Kimbo Fund' project, which is set to launch in 2024. This project will have a portfolio of $20 million, with the ability to invest between $100,000 and $200,000 in national production business projects. The Sustainable Investment Summit in Africa, concluding on Friday, has gathered entrepreneurs, bankers, and international agency representatives to discuss sustainable investment strategies. The summit is being held just before the 10th Annual Meeting of the Organization of African Special Economic Zones, scheduled for Thursday, November 27.