With Bureau Central Privada de Informaço de Crédito SA, Creditinfo Group, a global provider of credit information and risk management solutions, has announced intentions to create Angola’s first licensed credit bureau (Bureau).
This long-term strategic relationship, according to Creditinfo, is a vote of confidence and significant investment in Angola’s booming economy, allowing millions of small and medium-sized businesses and residents – many of whom are now unbanked – access to credit.
Creditinfo will combine Bureau’s local knowledge with its own vast experience delivering private credit bureau solutions in developing countries, especially across Sub-Saharan Africa, to deliver a world-leading private credit bureau service. Creditinfo’s most popular products and services, including CBS, will be included in the project’s initial scope. Additional value-added items will be introduced based on market needs.
“Accessing credit has long been a challenge across Sub-Saharan Africa. By opening Angola’s first private credit bureau, we’ll enable banks and other lenders to extend credit to citizens and businesses, helping to build and develop its already thriving economy. Supporting the unbanked to access finance requires a specific set of experiences and insights which Creditinfo has honed over decades of working across the region. We’re proud to be a leader in this space and can’t wait to open for another dynamic market together with our strategic partners.” Samúel White, Regional Director at Creditinfo said.
Cristiano Monnerat, Director at Bureau Central Privada de Informação de Crédito S.A. said “Boasting significant untapped opportunities for wealth creation and a young, dynamic population, Angola represents an attractive investment for us. As such, we’re excited to be able to draw on Creditinfo’s global expertise to build a private credit bureau that’s run by local people, for local people. All in all, this marks a major step forward for Angola’s growing economy.”
