Angola: Banco Millennium Atlantico joins the Trade finance program of Proparco

Proparco has just granted to Banco Millenium Atlantico (BMA), a package of Trade Finance instrument guarantees worth 15 million euros. This will facilitate the import of foodstuffs and raw materials necessary for the generation of local added value, which is crucial for the country’s economic growth. This project is Proparco’s first operation in Angola.

This initiative is part of France’s desire to strengthen its partnerships with Angola and follows French President Emmanuel Macron’s visit to Luanda on November 24, 2025, for the European Union–African Union Summit.

While Angola imports 50% of its food requirements to meet domestic demand and as oil prices have been falling steadily since 2022, limiting access to foreign currency, this operation addresses supply needs not covered by the local market, as well as the trade finance deficit in Angola. In fact, the Trade Finance guarantee provided to BMA will primarily cover basic commodities (sugar, rice, flour, wheat, vegetable oils) benefit at least 50% SMEs. 

This operation is part of the Food & Agriculture Resilience Mission (FARM) initiative, launched in 2022 by Emmanuel Macron, President of the French Republic, alongside the European Union, the G7 and the African Union. Its aim is to strengthen food security in the most vulnerable countries.

Moreover, this Proparco project complements the AFD Group’s commitments to the agricultural sector in Angola. Indeed, during Angolan President João Lourenço’s visit to Paris on January 16, 2025, a memorandum of understanding was signed on an irrigation project to boost food security, along with a €100 million loan from the AFD. The President of the French Republic, Emmanuel Macron, pointed out that this was part of the development of the agricultural partnership between the two countries.

The transaction is also part of the Choose Africa program of the AFD group (Agence française de développement, Proparco and Expertise France), which supports African start-ups, microenterprises and very small to medium-sized enterprises by financing and supporting them at various stages of their growth, thanks in particular to the local partners supported by the Group. 

“We are proud to sign this agreement with Proparco, which strengthens our ability to support Angolan companies in international trade. Banco Millennium Atlântico remains committed to being a strategic partner, delivering solutions and services that empower businesses and contribute to the sustainable growth of our economy” said Marcelo Fernandes Costa, Executive Vice President, of Banco Millennium Atlântico.

“I consider this partnership between BMA and Proparco with a high level of satisfaction, and I hope it will be followed by many others. Contributing to the development of agriculture strengthens food security, and food security is a shared priority of our two countries. From the Embassy’s position, this partnership is a strong signal sent to the French private sector, highlighting the fact that we have in Angola high-standard companies which our French business and entrepreneurs’ community can partner with”, said Sophie Aubert, Ambassador of France to Angola. 

“We are proud to welcome Banco Millennium Atlantico as the first Angolan partner in Proparco’s Trade Finance Program. This operation will support local companies in securing essential imports, strengthening value chains, and contributing to Angola’s economic resilience. It marks an important step in Proparco’s engagement in the country, and we look forward to deepening this partnership,” said Johann Choux, Regional Director for Southern Africa and Indian Ocean, Proparco.

“This signature represents far more than a financial agreement; it is a direct investment in Angola’s food security, in its private sector, and in the well-being of families who rely on stable access to essential goods. Through this partnership between Banco Millennium Atlântico and Proparco, we are strengthening international trade in support of economic growth and helping Angola convert its tremendous potential into shared prosperity. AFD is delighted to support its subsidiary Proparco in launching its very first project in Angola through this guarantee facility. This partnership is fully aligned with the FARM initiative and with the French government’s priorities in Angola: boosting agriculture, empowering local businesses, and enhancing the country’s resilience. We are proud to stand alongside Angola at this pivotal moment.”added Valérie Tehio, AFD Country Director for Angola.