BCP points to Sonangol as a “good partner”

  • ECO News
  • 17 November 2017

Nuno Amado made these statements after Isabel dos Santos' exoneration from the Board of the Angolan oil company Sonangol, which is now headed by Carlos Saturnino.

Given the changes in the Board of Directors of Sonangol, the CEO of Millenium BCP, Nuno Amado, stated this Friday that the company is a “good partner” of the banking institution and that he hopes “it will remain so”.

“Sonangol is doing very well, it is producing oil in Angola and is a good partner of BCP. It has been a great partnership for BCP and we hope it will remain so, Nuno Amado declared, when asked by Lusa about the changes made by the new President of Angola, João Lourenço. Those changes in Angolan public companies included not only removing the daughter of former President José Eduardo dos Santos from her position as Sonangol’s chairwoman, but also removing his sons from the public TV channel they were in charge of.

"Sonangol is doing very well, it is producing oil in Angola and is a good partner of BCP. It has been a great partnership for BCP and we hope it will remain so.”

Nuno Amado

BCP's CEO

Isabel dos Santos, along with the rest of Sonangol’s administration, was exonerated from the job this Wednesday by João Lourenço, who replaced her with Carlos Saturnino, former secretary of State for Oil.

Sonangol is BCP’s second largest shareholder, holding 15.24% equity — only surpassed by Fosun, with a 25.16% equity. When asked by Lusa if this structure would be changed, Nuno Amado refrained from commenting.

PUB