Financing Angola’s Energy Future: Banco BCS, BODIVA, AFC and Partners Showcase Funding Solutions for Local Companies
Banco BCS-sponsored panel at the Angola Oil & Gas 2025 Conference and Exhibition shed light on the vital role of financing in unlocking opportunities for Angola’s local oil and gas companies.
As Angola works to reverse declining oil production and increase the participation of indigenous service providers, the financial sector is stepping up to provide the tools and capital required to sustain growth.
Angolan financial institution Banco BCS is leading efforts to improve access to capital for local service providers in the energy industry. With customized financial products, the bank is helping to reduce bottlenecks in supplier payments and improve liquidity for small and medium-sized businesses.
“We have been supporting local businesses with factoring products—such as supplier payments—and also by purchasing debts to accelerate cash flow. In addition, we have international partnerships that allow us to make foreign currency payments on behalf of clients,” explained Sheila Barreto, Advisor to the Board of Directors, Banco BCS.
BODIVA: Opening Capital Markets for Energy Companies
Angola’s stock exchange, BODIVA, is creating a new pathway for oil and gas companies to strengthen their financial capacity by accessing the capital markets. The exchange aims to list at least ten companies by 2028, providing opportunities for both corporate debt issuance and equity offerings.
“One of the main instruments available is the issuance of corporate debt. The equity market is also open, offering companies the chance to list. For example, while ACREP’s IPO did not reach the listing stage, they were still able to raise funds through capital markets. This model is available to other companies,” noted Cristina Lourenço, Executive Director, BODIVA.
AFC: Backing Angola’s Strategic Projects
The Africa Finance Corporation (AFC) continues to play a pivotal role in financing large-scale oil, gas, and infrastructure projects in Angola. Recent initiatives include backing the Cabinda Refinery, Angola’s second operational refinery and the first built since independence, which began operations on September 1, 2025. The AFC has also supported Etu Energias with $60 million in financing for merger and acquisition transactions tied to its exploration strategy.
“Even with new projects coming onstream, by 2030, Angola’s production could fall below the one million bpd mark if significant interventions are not made. Indigenous E&P companies have opportunities to boost Africa’s energy security, but they need financing solutions to do so,” said Ibitola Ukabam, Vice President-Investment, AFC.
While opportunities are growing, challenges remain for local businesses in accessing financing. René Awambeng, Founder and Managing Partner of Premier Invest, emphasized the need for better corporate structures and compliance among Angolan firms.
“There is a lot of opportunity in Angola, but local companies need support to build robust structures and meet compliance standards. We also need stronger local banks with both short-term and long-term liquidity. De-risking transactions with partner institutions will be key,” Awambeng stated.
KPMG: Strengthening Corporate Capacity
Leveraging a global network spanning 143 countries, KPMG has established a strong practice in Angola, supporting both private and public sector clients.
“We are investing heavily in Angola and operate across the deal cycle—helping domestic and foreign investors alike. We also assist with foreign currency management, which is a significant challenge for many companies. Our team also specializes in tax and risk evaluation to help businesses operate more effectively,” said Erik Lambert, Director at KPMG.
Together, financial institutions and advisory firms such as Banco BCS, BODIVA, AFC, Premier Invest, and KPMG are shaping the financial ecosystem needed to sustain Angola’s oil and gas industry.
By offering innovative financing tools, capital market access, and risk management expertise, they are empowering local companies to play a larger role in the country’s energy future while supporting Angola’s broader economic diversification goals.
