👨🏿🚀TechCabal Daily – A $451 million divestiture
In today's edition: BPI, Portuguese commercial bank, sells Angolan stake || What’s changing on DStv? || Ghana launches Marrify || Mukuru’s new bet on payments
Banco BPI, a Portuguese commercial bank, has decided to sell its remaining stake in Banco de Fomento Angola (BFA). This sale comes nearly three decades after the bank began its operations in Angola. The deal involves BPI parting ways with the bank by selling its 33.35% share to Congolian Financial SA (CFSA), a company owned by Angolan conglomerate Grupo Carrinho.
The transaction values at nearly $451 million. The sale still requires approval from Angola’s Central Bank and Capital Markets Commission. Upon finalizing the deal, BPI will officially withdraw from Angola after almost three decades.
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