Africa’s richest woman and daughter of the Angolan President, 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.
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.