Angola: Carrinho and the Risks Angola’s Central Bank Must Confront

Carrinho has controlled Banco de Comércio e Indústria since December 2021. In August 2024, the competition authority cleared its takeover of Banco Keve, subject to central bank approval. It has also acquired 7.61 per cent of BFA through its subsidiary Congolian Financial. If consolidated, these interests could give the group influence over roughly 30 per cent of Angola’s banking market.

This expansion comes as Angola faces heightened international scrutiny. The Financial Action Task Force placed…