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Stop doing business with the Angolan Investment Bank


The Angolan Investment Bank (Banco Angolano de Investimentos, BAI) is a private Angolan bank that functions as a money-laundering scheme for the regime’s elite.

The European Bank of Investments, the Norwegian Fund for Developing Countries (Norfund) and the Danish Fund for International Investment (IFU) are partners of BAI, lending their international credibility to an institution that serves mainly to launder money resulting from the plunder of Angolan’s resources and to illicitly enrich the ruling elite.

Altogether, public officials and their associates hold a total of 47.75 percent of BAI’s shares. Meanwhile, 42.25 percent is distributed among private Angolan companies associated with public officials, foreign and national managers of the bank, as well as foreign companies. The remaining 10 percent are held by the Angolan National Oil Company Sonangol (8.5%) and the National Diamond Company Endiama (1.5%).

Nevertheless, BAI has so far enjoyed the complicity of the European Union and Nordic countries, which have until now refrained from addressing publicly the situation of generalized corruption, democratic deficit and human rights abuses in Angola.

Tell the European Bank of Investments, the Norwegian Fund for Developing Countries (Norfund) and the Danish Fund for International Investment (IFU) to stop partnering with BAI.

 

This petition was delivered to:
  • European Bank of Investments Secretary General and General Counsel
    Alfonso Querejeta
  • European Bank of Investments Board of Governors Chairman
    György Matolcsy
  • Norwegian Fund for Developing Countries (Norfund) Chair of the Board
    Kristin Clemet
  • Danish Fund for International Investment (IFU) Executive Board Managing Director
    Finn Jønck

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