Angolan Sovereign Wealth Fund signs investment commitment with BFA Asset Management.

On 29^th of August 2024, the Angola Sovereign Wealth Fund (FSDEA) formalised its entry into the Kimbo Fund, Angola’s debut private debt fund managed by BFA Asset Management (BFAAM), with an equity investment of USD 5 million. This investment will allow BFAAM’s Kimbo Fund to invest in businesses with high growth potential that generate income and are tackling key challenges in the local market aligned with the national economic diversification programme, including downstream agribusiness and logistics.

This equity commitment is expected to also help BFAAM to raise additional capital from other investors including the country’s pension funds, high net worth individuals, insurers, and foreign institutional investors.

FSDEA's investment in the Kimbo Fund represents a strong commitment to supporting the growth of SMEs in Angola, which are crucial to the country’s economic development. This agreement not only symbolises the mutual trust between the two institutions but also highlights the vital role both play in creating a more dynamic and resilient financial environment in Angola. The collaboration between FSDEA and BFAAM aligns with the long-term vision of both institutions to foster a more inclusive, sustainable, and diversified financial markets in the country.

The ceremony was attended by the leadership of both institutions. From FSDEA, attendees included Armando Manuel, Chairman of the Board of Directors; Alcides Safeca, Executive Director; Igor Lima, Executive Director; Rui Ceita, Executive Director; Gabriel Silva, Executive Director; Alcídio José, Head of Strategy and Business Office; and David Zilungo, Head of the Legal Department. Representing BFAAM, attendees included Rui Oliveira, CEO & Co-CIO; Carla de Jesus, Executive Director; Manuel André, Executive Director; Pascoal Martinho, Investment Associate; and Cássia André, Executive Assistant & Office Manager.

The event was witnessed by Ms. Nádia Pinto, Acting Chairperson of the Capital Markets Commission (CMC).

For more information: negocio@am.bfa.ao