BMA SL (IFC-41755)

  • Angola
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Feb 16, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
The holder of the loan, grant, or other investment.
  • Finance
  • Technical Cooperation
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Feb 13, 2019

Disclosed by Bank Jan 16, 2019

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Project Description

According to bank documents, the proposed investment consists of a 5-year senior loan of US$50 million to Banco Millennium Atlantico. The IFC investment will be complemented by a GTFP line of up to US$50 million.

The IFC investment will be complemented by a capacity building Advisory Services project on SME finance.

People Affected By This Project

Project-level development impacts:
i) Stakeholder effects: IFC anticipates that the project will increase access to finance to underserved SMEs. In addition to improving access to finance, IFC anticipates that the project will enhance the quality of products and services offered to SMEs.
ii) Economy-wide effects: By supporting ATL's SME clients in their expansion, the project is expected to help contribute to job creation and economic growth.

Market-level development impact:
i) Competitiveness: IFC expects that the successful demonstration, by an Angolan Tier 1 bank, of the commercial viability of scaling up SME lending and introduction of new product offerings and SME-focused processes will incentivize other financial institutions to follow suit.

Investment Description
  • International Finance Corporation (IFC)

 The proposed investment consists of a 5-year senior loan of US$50 million. The funding will be used for expanding ATL’s lending operations to Angolan SMEs. The IFC investment will be complemented by a GTFP line of up to US$50 million.

Private Actors

The bank has a diversified shareholding base composed mainly of private Angolan shareholders. The principal shareholder is Interlagos Equity Partners, S.A. with a 29.8% stake, followed by BCP Africa SGPS, Lda. with a 22.5% stake.

Contact Information

Banco Millennium Atlântico, S.A. 
Daniel Carvalho Santos 
Chief Executive Officer 
+244 226 432 400
Rua de Convenções de Talatona, Via S8 (GU05B), Município de Belas,Talatona – Luanda Sul 


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