The event &#8220;Doing Business Angola 2024&#8221;, taking place this Tuesday in Lisbon, aims to examine the country&#8217;s business environment from a macro perspective, as highlighted by N&#8217;Gunu Tiny, founder of the Media9 group.



In this second edition of DBA, organized by Forbes Africa Lusophone and Jornal Económico, we will explore Angola&#8217;s potential as a gateway to the SADC region, assess the role of infrastructures such as the Lobito Corridor and the new Luanda airport, discuss economic prospects, and address the challenges of tourism and hospitality in Angola.



N&#8217;Gunu Tiny pointed out that the challenge is to &#8220;approach the business environment of Angola from a macro perspective, analyzing the transportation sector as a link to the regional economy.&#8221; Citing Angola&#8217;s GDP growth (which has recently increased from 14 billion dollars to 70 billion dollars), he emphasized how new infrastructures can further enhance the Angolan economy. &#8220;The Lobito Corridor and the new airport usher the country into a new era of growth, but access to markets remains a significant challenge for the country,&#8221; he remarked. The Media9 founder believes that &#8220;it is not an overstatement to say that a good business environment is in everyone&#8217;s interest for economic and social growth. We are here to share common solutions.&#8221;

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New Infrastructure In Angola ‘Usher In A New Era Of Growth’, Highlights Founder Of Media9

The Prime Minister of Portugal, Luís Montenegro, will visit Angola in July this year as part of the Luanda International Fair (FILDA), announced the Portuguese ambassador to Angola, Francisco Alegre Duarte, moments ago in a message addressed to the participants of the second Doing Business Angola 2024 conference.



In the message projected at the event organized jointly by Jornal Económico and Forbes Africa Lusophone, Francisco Alegre Duarte also confirmed the visit of the Portuguese Minister of State and Foreign Affairs, Paulo Rangel, already scheduled for next week.



“I believe that these visits will give a renewed boost to a relationship that is already very good on the political level, but that can go even further in economic terms. We will work towards that,” he emphasized.



The Portuguese ambassador to Angola also assured that there are what he called &#8220;powerful instruments,&#8221; such as a financing line, a common language, and &#8220;a political or institutional framework marked by a mature relationship, as observed in the joint celebrations of the 50th anniversary of April 25th.&#8221;



Moreover, the diplomat noted that the exports of goods and services by Portuguese companies in Angola exceeded 2 billion euros in 2023. He also mentioned that currently, 1,250 Portuguese and Luso-Angolan companies operate in Angola.



&#8220;These companies have a very strong presence, for example, in the civil construction sector, but also in other sectors, and they create tens of thousands of direct and indirect jobs,&#8221; he highlighted, adding that they have faced some challenges, notably in payment predictability, legal security, exchange rate stability, and access to foreign currency.

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Portuguese Prime Minister visits Angola in July this year

It is said that good people die early. In the case of Herbert Wigwe, aged 57, it seems too soon. Those who had the privilege of crossing paths with Herbert realized immediately that they had a unique Leader before them. In this moment of pain and grief for his family and friends and faced with the unconformism of the tragedy, it is important to remember his path and honor his legacy.



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="576" height="1024" src="https://cms.forbesafrica.com/wp-content/uploads/2024/02/foto-inserir.jpg" alt="" class="wp-image-61235" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/02/foto-inserir.jpg 576w, https://cms.forbesafrica.com/wp-content/uploads/2024/02/foto-inserir-169x300.jpg 169w" sizes="(max-width: 576px) 100vw, 576px" /><figcaption class="wp-element-caption">N&#8217;gunu Tiny with Herbert Wigwe
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 I remember him as a Leader with unusual personal qualities and a global and humanistic vision. Herbert Wigwe stood out for his outstanding intelligence, fine and polite manners, and for his truly extraordinary decision-making and implementation capacities. He was a man who wanted not only to do things, but to do good and for others: he was a man of the common good. He had two families: Wigwe and Access Group, and he was committed to both. He co-founded and developed a global African institution. Access Bank is today an established African bank in the world&#8217;s main financial and commercial markets, serving 60 million customers (the same as Citi Bank, for example) in more than 17 countries, with assets totaling more than USD 35 billion. Numbers aside, he leaves us a global bank focused on African clients. Herbert was a humanist leader. And it is under this latter condition that he wanted to leave his imprint with the social impact investment in a Pan-African university in his hometown, Isiokpo, Rivers State, Nigeria, offering a new generation the opportunity of receiving world-class education. Wigwe University shall teach the new generation of African leaders and provide “school personality” to millions of Africans in the coming decades. I would also like to remember the man and the friend with whom I have had the privilege of working very closely on common projects and developing a unique friendship in recent years. Last year, on one of our trips, he asked me if I would be available to teach at Wigwe University. As I was about to answer he added, “It&#8217;s not really an invitation. I won’t take no for an answer because the transfer of knowledge is our daily obligation ”. The matter was settled right there! In this moment of deep pain and grief, I bow before the unique memory of Herbert, Doreen and Chizi and I would like to send my heartfelt condolences to his family, loved ones and the Access Group. My feelings are also with the families and friends of the remaining four victims of that fateful moment of Saturday 10 February 2024. Herbert&#8217;s legacy only makes our responsibility even greater. Keep soaring, “H”..! If he was among us, he would answer: “Tiny, No Wahala”. Lisbon, February 12, 2024.

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In memoriam: Herbert Wigwe, Leader, Visionary and Humanist (15 August 1966 – 10 February 2024).

This article has been translated and republished with permission from Forbes Africa Lusofona. This article first appeared <a href="https://www.forbesafricalusofona.com/nigeriano-access-bank-adquire-finibanco-angola-a-montepio-holding/" target="_blank" rel="noreferrer noopener">here</a>. “Our vision remains as clear as ever, as does our determination to seize opportunities inside and outside Nigeria.&nbsp;Angola represents an opportunity for our shareholders to participate in what we believe will generate stronger value as Africa emerges.&nbsp;We remain committed to making these disciplined and well-structured investments to create a strong and holistic platform that will be competitive, diverse and attractive for years to come”, says Herbert Wigwe, CEO of Access Holding Pics, exclusively for Forbes África Lusófona, regarding the binding agreement with Montepio Holding SGPS SA to acquire a 51% majority stake in Finibanco Angola SA



The acquisition, signed after the signing of several agreements (pictured), is subject to regulatory approvals in Nigeria and Angola, and is expected to close in the first half of 2023, after fulfilling the conditions precedent, Forbes has learned.&nbsp;At the same time and in a statement, Banco Montepio adds that “the sale value will refer to the proportion attributable to the Banco Montepio Group in the equity of Finibanco Angola SA, which totals 70 million euros with reference to June 30, 2022, and the adjustments that may be determined within the scope of an audit scheduled for completion in the second quarter of 2023”.



“For MH and for the broader Banco Montepio group, this is an important step in its strategy of concentrating its activity on the domestic market and, at the same time, opening new paths for the future of Finibanco Angola, which it helped to develop during more than a decade under its ownership”, says the document.



For Access Bank, “the transaction furthers the Bank’s strategy of being Africa’s payment gateway to the world, while working with other continent-focused multilaterals to provide robust and efficient payment platforms and ecosystems.”



It should be noted that Access Bank has a network of more than 700 branches and service points on three continents, with 45 million customers.&nbsp;and 28,000 workers in Nigeria, as well as subsidiaries in Sub-Saharan Africa and the United Kingdom, in addition to a subsidiary in Dubai and representative offices in China, Lebanon and India.



Finibanco Angola SA is a commercial bank with more than 20 branches and around US$300 million in total assets that has been operating in Angola since 2008.

Author: Forbes Africa Lusofona

FORBES AFRICA SOCIAL MEDIA

New Infrastructure In Angola ‘Usher In A New Era Of Growth’, Highlights Founder Of Media9

Portuguese Prime Minister visits Angola in July this year

In memoriam: Herbert Wigwe, Leader, Visionary and Humanist (15 August 1966 – 10 February 2024).

Exclusive: “Angola represents an opportunity for our shareholders”, says CEO of Access Bank