Gemcorp Capital, a London-based investment fund, has launched an asset management company in Angola. The company will be led by Walter Pacheco, the former CEO of the Angolan Stock Exchange (Bodiva).
Kassai was created by Gemcorp to mobilise national and international resources to finance the growth of the Angolan economy, “by investing in assets, projects and strategic opportunities, and by boosting the capital market and assessing the need for capital to support its growth,” a statement said.
The appointment of Walter Pacheco and the launch of Kassai “mark an important step in the consolidation of the Gemcorp Group’s strategy in Angola,” emphasises the company, which aims to be “a relevant operator in the country’s capital market”.
The CEO of the Gemcorp group, Atanas Bostandjiev, emphasised in the same note that “Kassai will complement and strengthen the work done by Gemcorp Angola over the last ten years, a period in which it has contributed significantly to the social and economic development of the country”.
Gemcorp is involved in the construction of the Cabinda refinery (through Gemcorp Holdings), being the main shareholder, and is supporting the Angolan government in the negotiations for financing of $2 billion (€1.92 billion), Jornal de Negócios reported last week.
Gemcorp has been financing the Angolan state since 2015 with various credits and Angola represents a significant part of the fund’s revenue stream.
Lusa
