Oman Establishes African Bank in Angola to Expand Global Financial Presence

Muscat, The Gulf Observer: The African Bank of Oman has been officially established in Luanda, marking a significant milestone in the Sultanate of Oman’s efforts to expand its financial footprint across emerging African markets.

The move underscores Oman’s growing ambition to strengthen its role as a provider of financial and institutional expertise on the global stage, while deepening economic engagement with the African continent.

Theyazin bin Haitham Al Said, Deputy Prime Minister for Economic Affairs, said the initiative will enhance economic relations with Africa’s fast-growing markets and reinforce Oman’s reputation as a reliable investment partner. He added that the step aligns with the country’s long-term diversification objectives under Oman Vision 2040.

Meanwhile, Abdulsalam bin Mohammed Al Murshidi, Chairman of the Oman Investment Authority, highlighted the bank’s strategic importance in supporting Omani companies seeking to expand internationally and access new markets and investment opportunities.

He further noted that the bank will contribute to economic development in Angola by financing key projects and strengthening trade and investment financing mechanisms.

The establishment of the bank reflects Oman’s broader push to build global partnerships, support private sector growth, and position itself as a key player in emerging international markets.