Africa's richest woman to expand her banking empire.

Africa’s richest woman, Angolan Isabel
dos Santos, is set to spread her banking empire
into neigbouring Namibia, after a banking licence
was approved by the country’s central bank.
Bank of Namibia spokesperson Ndangi Katoma
said the bank had granted provisional
authorisation to Bank BIC Namibia Limited to
conduct business as a banking institution in
Namibia.
Bank BIC
Namibia
Limited is a
subsidiary of
Angolan
Bank Banco
BIC, which is
42.5-percent
owned by
Africa’s first
woman
billionaire,
the daughter
of Angolan
President
Jose
Eduardo dos
Santos.
Isabel dos Santos, is reported by Forbes to be
worth $3 billion.
But Katoma warned that Bank BIC Namibia would
not be allowed to engage in banking activities
with any person in Namibia just yet, “especially
soliciting deposits.”
The Bank of Namibia must first issue a certificate
of authorisation.
Angolan Bank Banco BIC is one of Angola’s
biggest banks, with an estimated 200 branches
across the country.
Portuguese newspaper, Publico reported last week
that Isabel dos Santos had increased her stake in
Angolan Bank Banco BIC by 25 percent to 42.5
percent.
Namibia’s banking sector is currently dominated
by South African three subsidiaries First National
Bank, Standard Bank, Nedbank, as well as Bank
Windhoek.