The Banco Africano de Investmentos Cabo Verde, in which the Angolan Banco Africano de Investmimentos and Sonangol hold a majority stake, has opened two branches in Praia, the bank’s communication director announced.

Margarida Mascarenhas said on Tuesday that the new branches – one in Plateau and the other in Achada de Santo Antonio, both in the centre of Cape Verde’s capital – are part of the BAI’s strategy of growth and consolidation and the policy of seeking closer customer relations.

With the two inaugurations on Friday, Cape Verde’s newest financial institution now counts five branches, three in Praia and one each on the islands of Sao Vicente and Sal.

BAI Cabo Verde has a capital of 90 million euros. Its shareholders are the Banco Africano de Investimentos with 71 percent, the Angolan oil company Sonangol with 19 percent and the Cape Verdean company Sogei with 10 percent. (macauhub)