Angolan food magnate Nelson Carrinho to buy $452 million Banco de Fomento Angola stake

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Botswana

Angolan food magnate Nelson Carrinho to buy $452 million Banco de Fomento Angola stake — Sources: Billionaires.Africa

Angolan food and agriculture magnate Nelson Carrinho has agreed, through Congolian Financial, to buy Banco BPI's entire 33.35 percent stake in Banco de Fomento Angola for $452 million. The deal would end a 30-year Portuguese presence and deepen questions about banking concentration.

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Angolan food magnate Nelson Carrinho to buy $452 million Banco de Fomento Angola stake

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