GTFP BFA Angola (IFC-50831)

Countries
  • Angola
Geographic location 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
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
FI
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Dec 5, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
BANCO DE FOMENTO ANGOLA S.A.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Guarantee
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 7.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 8, 2026

Disclosed by Bank Mar 13, 2026

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Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

The proposed project is an unfunded trade finance facility processed under IFC’s Global Trade Finance Program (GTFP) of up to US$30 million to Banco de Fomento Angola (BFA or the Bank). The proposed IFC trade facility aims to support the Bank's international trade operations. GTFP offers confirming banks partial or full guarantees covering payment risk on issuing banks in emerging markets for trade related transactions (the Project).

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The Project is an unfunded trade finance facility processed under GTFP to BFA, with a limit of up to US$30 million on IFC’s own account and for transactions with tenor up to 360 days.     

Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

BFA is the second largest bank in Angola by total assets, loans, and deposits, and one of the best performing banks in the country. As of June 2025, BFA has 160 branches, 22 Enterprise Centers, 11 Investment Centers and 1 Private Banking serving over 3.4 million customers. Operations started under former Banco Fomento Exterior (BFE) which opened a representation office in Angola in 1990. BFE was then acquired by the BPI Group, one of the largest banking groups in Portugal, in 1996 and, in 2002, BFA was incorporated. In September 2025, BFA successfully completed an IPO with a 29.75% public listing, bringing in over 8,000 shareholders, while its largest shareholders remain Unitel (36.90%) and BPI (33.35%).  


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

 

For Inquiries About the Project, Contact

Banco de Fomento Angola
Alice Azevedo
Deputy Director, Head of International Division
+244 222 638 975
alice.ferreira.azevedo@bfa.ao
Rua Amílcar Cabral nº 58 - Luanda, Angola
http://www.bfa.ao/

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries 

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org 

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How it works