Unitel to decide whether to buy BPI’s 33.35% BFA stake
By the AFREEQUE newsroom, based on Expansão
Unitel, the Angolan telecoms operator that holds 36.9% of Banco de Fomento Angola (BFA), is calling its shareholders on 26 November to decide whether to exercise its pre-emption right over the 33.35% held by Portugal’s BPI. The decision could prevent the sale of the stake to Angolan group Carrinho, agreed for €388.5 million, Expansão reports.
Unitel, the Angolan telecoms operator that holds 36.9% of Banco de Fomento Angola (BFA), will decide on 26 November whether to exercise its pre-emption right over the 33.35% stake held by Portugal’s BPI. The operator has called an extraordinary general meeting in Luanda to consider the issue, according to Expansão.
In September, BPI agreed to sell its stake to Congolian Financial, the financial subsidiary of Angolan group Carrinho, for €388.5 million. The transaction depends on Unitel’s decision, as it can match the offer, as well as on authorisations from the Banco Nacional de Angola, Angola’s Capital Market Commission and its Portuguese counterpart.
Congolian Financial already holds a stake in BFA. It acquired 7.61% when the bank was listed on the stock exchange about a year ago; that stake was subsequently transferred to two funds, AXIOS and ASSET, managed by Angolan company Oluasi Investments. As at 30 June 2026, BPI’s 33.35% stake in BFA was recorded on its balance sheet at €379 million.
If the sale goes through, the Carrinho group will strengthen its presence in BFA’s share capital. The agreement announced by BPI in September provides for the sale of 5,002,500 shares, representing 33.35% of the Angolan bank.
