The Banco Português de Investimento (BPI) exited the capital of Banco de Fomento Angola (BFA), representing the most recent move in a trend of reducing the presence of Portuguese banking in Angola. This exit marks another episode in a process that has been repeating itself in recent years.
The Angolan financial system thus sees its Portuguese participation reduced, at a time when financial institutions of Portuguese origin have been progressively decreasing their activity in the country. BPI joins other similar cases of Portuguese banks that have left or significantly reduced their operations in Angola.
This reduction in the presence of Portuguese banking in Angola complicates the lives of Angolan companies, which are left with fewer financing options and financial services available in the market. BPI's departure from the capital of BFA aggravates this situation, creating additional difficulties for companies that depended on these services.
