Access Bank Angola has announced the provision of over 300 million US dollars to support commercial operations and investment between Angola and China. The initiative seeks to facilitate imports and projects by companies from both markets.

The bank recently signed, in Luanda, a Memorandum of Understanding with the Chamber of Commerce Angola–China (CAC), at an event held in collaboration with the Luanda Business Association. The partnership aims to mobilise private investment and strengthen bilateral financial operations, including the use of the renminbi and cross-border payments. The initiative received the support of the bank's representative office in Shanghai.

According to the Chairman of the bank's Executive Board, Ricardo Ferreira, the institution has the capacity to support the roughly 500 Chinese companies established in Angola. It intends to back trade and infrastructure projects, notably bridges, airports, railways, ports and hospitals.

The President of the CAC, Luís Cupenala, highlighted trade financing and cross-border payment solutions as instruments for simplifying capital flows and boosting bilateral trade. The chamber aims to support its member companies and attract new investors.

(Source: Jornal Mercado, 5 October)