Oman Establishes African Bank of Oman in Angola to Boost Investment

African Bank of Oman Launched in Luanda to Strengthen Trade Links

Luanda: The establishment of the African Bank of Oman (ABO) was announced today in Luanda, as part of efforts to expand the Sultanate of Oman’s investment presence in African markets and support the objectives of Oman Vision 2040.

The bank is set to operate as a cross-border investment institution aimed at facilitating capital flows and trade between Oman, Angola and other African markets, while leveraging Omani expertise in financial governance and institutional practices.

HH Sayyid Theyazin bin Haitham Al Said, Deputy Prime Minister for Economic Affairs, said that the launch of the bank reflects Oman’s approach to strengthening its global economic partnerships and enhancing its role in linking regional and international markets.

He added that the project is expected to deepen economic relations with African countries and reinforce Oman’s position as a reliable investment partner.

For his part, Abdul Salam bin Mohammed Al Murshidi, Chairman of the Oman Investment Authority (OIA), said that the establishment of the bank represents a strategic step towards building financial platforms in emerging markets and diversifying sources of income.

He explained that the bank will serve as an integrated financial platform to support trade and investment flows between Oman and Africa, particularly Angola, which offers promising opportunities across multiple sectors.

Al Murshidi added that the bank will also support Omani companies seeking to expand into new markets by providing financing solutions and facilitating access to investment opportunities.

The bank will offer a range of services, including trade finance, cross-border payments, liquidity management and advisory services, as well as financing major projects in sectors such as oil and gas, mining, manufacturing and logistics.

The establishment of the bank aligns with Angola’s “Strategy 2050”, which focuses on economic diversification, infrastructure development and attracting foreign investment.

During its initial phase, the bank aims to serve around 50 institutions, including multinational companies, local firms and government entities, with plans to expand its operations to support broader trade and investment activities between Africa and the Middle East.