Congolian Financial, S.A. has acquired a qualified stake of 7.61% of the share capital of Banco de Fomento Angola (BFA), according to a market disclosure released this week.
According to the information submitted by BFA to the Capital Markets Commission, the stake results from the initial acquisition of 1,133,747 shares during the special stock exchange session that determined the results of the IPO in September 2025, to which 7,159 shares subsequently acquired on the secondary market were added. This brings the total holding to 1,140,806 shares, corresponding to 7.61% of the bank’s share capital and voting rights.
BFA clarified that the acquisitions were carried out in a “free, autonomous and independent” manner by the shareholders, with no agreement, coordination or concerted action between them, and that the respective voting rights are legally attributable to Congolian Financial.
Congolian Financial, S.A. is an Angolan public limited company, headquartered in the municipality of Lobito (Benguela), with effective beneficiaries being businessmen Nelson Fidel Candundo Carrinho and Rui Alves Candundo Carrinho, linked to the Carrinho Group, one of the largest Angolan business groups, operating mainly in the food distribution, logistics, wholesale and retail sectors.
Congolian’s voting rights result from the aggregation of stakes held by the effective beneficiaries and by other entities and individuals identified in the disclosure, including Banco de Comércio Indústria, with 1.26% of the capital, as well as Nelson Carrinho and Rui Alves Carrinho (1.51% each), and several individual shareholders with holdings of less than 1%, together amounting to 7.61% of the share capital.
In a clarification released on 28 January, the bank stressed that no changes to its governing bodies had been decided, nor had any director been removed. It recalled that the term of office of the current governing bodies ended on 31 December 2025 and that any potential changes will depend on a resolution of the General Meeting, to be held during the first quarter of 2026.
Source: Angola 24 Horas
