WASHINGTON--(BUSINESS WIRE)--Angola is fast becoming a leader in international investment in sub-Saharan Africa and a model of economic growth and development for the continent. Angolan National Bank Governor Jose de Lima Massano will discuss this resurgence with policymakers and members of the international finance community at a meeting hosted by Banco Privado Atlantico (ATLANTICO). Widely regarded as Angola’s most respected banker, Governor Massano will speak about the challenges and opportunities facing the Angolan banking sector during this time of growth and reform.
Joining Governor Massano will be Jim O’Neill, Chairman of Goldman Sachs Asset Management (GSAM). Mr. O’Neill, noted for coining the widely used acronym BRICs, is an internationally respected economist and commentator with a unique perspective on global markets, currencies and trends. Mr. O’Neill will present remarks on the Angolan economy within the framework of emerging markets.
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WHO: |
Jose de Lima Massano, Governor, National Bank of Angola | ||
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WHAT: |
ATLANTICO Meeting on Angola: Achievements and Perspectives | ||
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WHERE: |
Crystal Room, the Willard InterContinental Hotel located at 1401 Pennsylvania Ave NW, Washington, DC 20004 | ||
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WHEN: |
Friday, October 11, 2013; Meeting begins at 8:00am with Mr. Massano to speak at 8:10am and Mr. O’Neill at 8:45am. | ||
Background: Angola’s economy is one of the most buoyant in Africa with a nominal GDP of 118.7 billion USD. Annual growth rates have eclipsed China, averaging 9 percent between 2003 and 2012. Economic expansion beyond Angola’s established oil sector into transportation and agriculture related industries has diversified Angola’s economy, creating an improved standard of living and an enticing environment for international investment.
Underpinning this growth is an important set of reforms to the Angolan banking system. Overseen by Jose de Lima Massano, these reforms have stabilized Angola’s currency and placed it on a deflationary track. These actions, along with the creation of a Financial Intelligence Unit, heightened compliance regulation, the approval of the Anti-Money Laundering Law by the Angolan National Assembly, and ratification of the UN Convention on Organized Crime, have earned Angola a stable BB- rating by Fitch and a Ba3 by Moody’s.
Media Availability: Governor Massano will be available for media interviews in person or by phone. For information and to schedule an interview, contact Jeff Urbanchuk at Stanton Communications at jurbanchuk@stantoncomm.com or 202-223-4933.