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.
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.
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.
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.
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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