The Angolan Banking System: a quest for global integration
Angola has grown rapidly over the last decade, emerging as the third largest economy in Sub-Saharan Africa. In connection with the oil boom, Angola's financial sector grew exponentially, from US$ 3 to 70 billion in assets over the course of the last ten years. But the fall in oil price, and the blacklisting of the country due to money-laundering concerns has posed serious challenges for financial policymakers. Ricardo Viegas de Abreu was an instrumental part of the team that helped found Angola's first private bank, the Banco Angolano de Investimentos (BAI) in 1997. After 10 years, he stepped down and began working in the public sector, as the Vice Governor of the National Bank of Angola.
He will talk about economic transformations in Angola, and across Africa, looking at oil, economic development, investment and improving knowledge and skills.