The following article was first published <a href="https://www.forbesafricalusofona.com/magnata-nigeriano-em-angola-para-oficializar-investimento-na-refinaria-do-lobito/">here</a>, by Forbes Africa Lusofona and has been translated and republished with permission. 



The tycoon and president of Dangote Industries, Aliko Dangote, Africa&#8217;s richest man, arrived in Luanda on Tuesday for a brief visit to officially open his company&#8217;s subsidiary in Angola, according to the Angolan Embassy in Nigeria.



“The businessman and his executives aim to formalize their participation in the construction of the Lobito Refinery, within the framework of investments in the Lobito Corridor, the direct acquisition and operation of oil blocks in Angola’s onshore and offshore areas, as well as the acquisition or management of cement factories,” the embassy confirmed.



Aliko Dangote was received by Angolan President João Lourenço and will hold working meetings with ministerial entities, Sonangol, the National Oil, Gas, and Biofuels Agency (ANPG), and heads of public institutions.



The Nigerian billionaire’s first step is to open a subsidiary of Dangote Industries in Angola to consolidate his investment intentions in various sectors.



In a recent meeting with Ambassador José Bamóquina Zau to finalize the Luanda agenda, Aliko Dangote expressed his enthusiasm and commitment.



“I appreciate the attention of His Excellency João Lourenço at this moment when Africa must become increasingly united with its people,” the billionaire stated, adding, “It’s true that the situation in Angola has changed significantly; we hear good news from friends who visit, which increases my satisfaction and desire to invest.”



<h2 class="wp-block-heading" id="h-about-aliko-dangote">About Aliko Dangote</h2>



Aliko Dangote, 67 years old, is the first individual to build a private refinery in Nigeria. He is Africa&#8217;s richest man and ranks 211th globally, with a net worth estimated at $27 billion (Bloomberg Billionaires Index).



In 1977, Dangote started as a small trading company in Kano, later expanding to Lagos. With a loan of ₦500,000 (Naira) from his uncle, Dangote built one of Africa&#8217;s largest conglomerates, with international operations in Benin, Togo, Ghana, Gabon, Congo, DRC, South Africa, Zambia, Cameroon, Ethiopia, Tanzania, and now Angola.



With 11,000 employees in West Africa, the Dangote Group has evolved from a trading company to Nigeria’s largest industrial group, encompassing divisions such as Dangote Sugar Refinery, Dangote Cement, and Dangote Flour.



The group dominates Nigeria’s sugar market and refinery business. Its beverage, brewery, and confectionery companies cover nearly 70% of the market. It also has substantial investments in real estate, banking, transportation, textiles, and agro-industry.



In 2022, Dangote completed the assembly of the Peugeot Nigeria factory after partnering with the Stellantis Group. The new automobile company, Dangote Peugeot Automobiles Nigeria Limited (DPAN), headquartered in Kaduna, began operations with the launch of models such as the Peugeot 301, 508, 3008, 5008, and Landtrek.

Key Speakers and Interviews at the Bloomberg New Economy Forum

Nigerian Tycoon in Angola to Formalize Investment in the Lobito Refinery

<h3 class="wp-block-heading" id="h-a-call-for-women-s-leadership-in-energy">A Call for Women’s Leadership in Energy</h3>



The Secretary of State for Mineral Resources, Jânio Correa Victor, inaugurated the summit with a call to action for women to lead transformative projects in the energy sector. Representing the Minister of Mineral Resources, Petroleum, and Gas, Diamantino Azevedo, he emphasized the Ministry’s commitment to fostering platforms like this summit to share insights and identify talent.



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="540" src="https://cms.forbesafrica.com/wp-content/uploads/2024/11/Janio-Correa-Victor-officially-opened-the-Forbes-Africa-Lusophone-Annual-Summit-Tom-Carlos.jpeg" alt="" class="wp-image-63731" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/11/Janio-Correa-Victor-officially-opened-the-Forbes-Africa-Lusophone-Annual-Summit-Tom-Carlos.jpeg 750w, https://cms.forbesafrica.com/wp-content/uploads/2024/11/Janio-Correa-Victor-officially-opened-the-Forbes-Africa-Lusophone-Annual-Summit-Tom-Carlos-300x216.jpeg 300w" sizes="auto, (max-width: 750px) 100vw, 750px" /><figcaption class="wp-element-caption">Jânio Correa Victor officially opened the Forbes Africa Lusophone Annual Summit. (Photo: Tom Carlos)</figcaption></figure>



Victor praised the efforts of the Muhatu Energia Angola Network, a two-year-old initiative supporting women in petroleum, as a vital step toward achieving gender equality in the sector. He highlighted the alignment of its work with Angola’s National Development Plan 2023–2027 and Sustainable Development Goals, particularly SDG 5 on gender equality. &#8220;Our responsibility is to ensure the sustainable and inclusive advancement of the sector,” he remarked, calling on women to innovate and lead Angola toward a brighter, more inclusive future.



<h3 class="wp-block-heading" id="h-the-power-to-inspire-advocating-diversity">“The Power to Inspire” – Advocating Diversity</h3>



A central panel discussion, The Power to Inspire, moderated by Sonangol board member Olga Sabalo, featured industry leaders Natacha Massano, Katrina Fisher, and Nina Koch. Addressing the enduring question of gender roles in the workplace, the panelists unanimously affirmed women’s equal capability in every field.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="682" src="https://cms.forbesafrica.com/wp-content/uploads/2024/11/woman-panel-2-1024x682.jpeg" alt="" class="wp-image-63734" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/11/woman-panel-2-1024x682.jpeg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2024/11/woman-panel-2-300x200.jpeg 300w, https://cms.forbesafrica.com/wp-content/uploads/2024/11/woman-panel-2-768x512.jpeg 768w, https://cms.forbesafrica.com/wp-content/uploads/2024/11/woman-panel-2.jpeg 1280w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Olga Sabalo, Katrina Fisher, Nina Koch, and Natacha Massano</figcaption></figure>



“We must embrace the power of diversity,” said Katrina Fisher, General Manager of ExxonMobil Angola. She stressed the importance of creating opportunities, fostering courage, and building networks to support women at all stages of their careers. Founder of Muhatu Energy Angola, Natacha Massano, echoed these sentiments, emphasizing that inclusion begins with women empowering one another. “Equity diminishes at management levels, so we must lift each other up to bridge this gap,” she asserted.



The discussion also underscored the need for women to take risks and step into leadership roles. “It’s about being bold and saying yes to opportunities, even in uncomfortable spaces,” added Nina Koch, Vice President of Equinor Africa. Together, the panelists championed a collaborative approach, urging men and women to work together toward an inclusive future where diverse perspectives drive innovation and progress.



<h3 class="wp-block-heading" id="h-women-as-agents-of-transformation">Women as Agents of Transformation</h3>



The Angolan Minister of Mineral Resources, Petroleum, and Gas, Diamantino Azevedo, highlighted women’s vital contributions to transforming the oil and gas industry. “Your talent, vision, and resilience are fundamental in shaping a sustainable and innovative future for this industry,” he said, reiterating that promoting inclusion is not just equitable but also a smart business strategy.



Minister of the Environment, Ana Paula de Carvalho, further emphasized the value Angola places on women’s leadership. Highlighting their success in public and private roles, she encouraged women to seize the opportunities available and excel. “Being a woman is an advantage, but competence and effort are essential to meet the challenges we face,” she affirmed.



<h3 class="wp-block-heading" id="h-a-future-of-equality-and-innovation">A Future of Equality and Innovation</h3>



The summit showcased Angola’s commitment to positioning women at the forefront of its energy sector, not just as participants but as leaders driving progress. From the Secretary of State’s call for innovative projects to the panelists’ shared strategies for inclusion, the message was clear: gender equality is a cornerstone for Angola’s development.



As Minister Azevedo concluded, “If this world were led by more women, we would possibly have more peace.” The Forbes Africa Lusophone Annual Summit 2024 was not only a celebration of women’s achievements but also a rallying cry for greater diversity, equity, and innovation in shaping Angola’s—and the world’s—energy future.



<h3 class="wp-block-heading" id="h-promoting-women-s-leadership-in-angola-s-oil-sector-muhatu-energy-angola-s-mission">Promoting Women&#8217;s Leadership in Angola&#8217;s Oil Sector: Muhatu Energy Angola&#8217;s Mission</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="676" src="https://cms.forbesafrica.com/wp-content/uploads/2024/11/WhatsApp-Image-2024-11-21-at-10.58.15-AM-1024x676.jpeg" alt="" class="wp-image-63784" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/11/WhatsApp-Image-2024-11-21-at-10.58.15-AM-1024x676.jpeg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2024/11/WhatsApp-Image-2024-11-21-at-10.58.15-AM-300x198.jpeg 300w, https://cms.forbesafrica.com/wp-content/uploads/2024/11/WhatsApp-Image-2024-11-21-at-10.58.15-AM-768x507.jpeg 768w, https://cms.forbesafrica.com/wp-content/uploads/2024/11/WhatsApp-Image-2024-11-21-at-10.58.15-AM.jpeg 1170w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Bringing more women into the oil sector is the driving force behind Muhatu Energy Angola, emphasized its Management Commission President, Nicola Mvuayi, at the Forbes Africa Lusophone Annual Summit.</figcaption></figure>



Muhatu Energy Angola (MEA) was created two years ago to enhance career opportunities and leadership development for women in Angola&#8217;s oil sector, where women make up only 22% of the workforce and just 5% hold leadership positions. The initiative focuses on providing training, mentoring, and leadership opportunities, with programs aimed at increasing the number of women in the sector. Key projects include mentorship and internship programs like ASSEA Ubuntu, which has had a positive impact on youth training. MEA also works to raise awareness of the underutilized female talent in the industry. The platform has been pivotal in fostering connections, such as university workshops, where seasoned professionals share their experiences. Nicola Mvuayi, president of MEA’s Management Commission, emphasized that while challenges remain, the progress over the past two years is promising, with opportunities growing through energy transition and diversification. She stressed the importance of meritocracy, skill development, and preparing women to compete in the competitive oil sector.



Reporting by: : <a href="https://www.forbesafricalusofona.com/autor/nelson/">Nelson Rodrigues</a>, <a href="https://www.forbesafricalusofona.com/autor/ritameireles/">Rita Meireles</a> and <a href="https://www.forbesafricalusofona.com/autor/pedro-mbinza/">Pedro Mbinza</a>

Minister of oil

Angola Champions Women’s Leadership and Diversity at Forbes Africa Lusophone Annual Summit 2024

&#8220;Women are our greatest entrepreneurs, both from a social and business perspective,&#8221; said N&#8217;Gunu Tiny, founder of the Media Nove group, this Wednesday, the 20th, in Luanda.



Speaking at the opening of the Forbes Africa Lusophone Annual Summit 2024, an event that brings together visionary leaders from the energy industry to discuss how diversity and inclusion drive innovation and success, N&#8217;Gunu Tiny emphasized that women earn significantly less than men, both in the formal and informal sectors.



&#8220;Angola has created mechanisms to promote female entrepreneurship, such as Acelera Angola and the Credit Guarantee Fund,&#8221; he highlighted.



He further elaborated that female leadership today means undertaking, impacting, and transforming. He added that gender parity is a moral imperative for any just society and is established through inclusive, impactful, and consequently more sustainable leadership.



&#8220;Impactful leadership is increasingly important in transforming companies, and this requires the engagement of CEOs in adopting governance that ensures dynamism, innovation, talent attraction, and the alignment of organizations with ESG standards,&#8221; he argued.



According to the founder of the Media Nove group, &#8220;on the topic of energy, we need to be coherent and realistic.&#8221;



&#8220;We must adhere to principles, but we must also be gradual in their implementation. We must be aware that different economies are not at the same stage of development; it is essential to consider each one&#8217;s specificities: scan globally, reinvent locally,&#8221; he urged.



<a href="https://www.forbesafricalusofona.com/as-mulheres-sao-as-nossas-maiores-empreendedoras-fundador-do-grupo-media-nove/">This article was translated and republished with permission.</a>

leading tom carlos

“Women are our greatest entrepreneurs” – founder of the Media Nove group

The event &#8220;Doing Business Angola 2024&#8221;, taking place this Tuesday in Lisbon, aims to examine the country&#8217;s business environment from a macro perspective, as highlighted by N&#8217;Gunu Tiny, founder of the Media9 group.



In this second edition of DBA, organized by Forbes Africa Lusophone and Jornal Económico, we will explore Angola&#8217;s potential as a gateway to the SADC region, assess the role of infrastructures such as the Lobito Corridor and the new Luanda airport, discuss economic prospects, and address the challenges of tourism and hospitality in Angola.



N&#8217;Gunu Tiny pointed out that the challenge is to &#8220;approach the business environment of Angola from a macro perspective, analyzing the transportation sector as a link to the regional economy.&#8221; Citing Angola&#8217;s GDP growth (which has recently increased from 14 billion dollars to 70 billion dollars), he emphasized how new infrastructures can further enhance the Angolan economy. &#8220;The Lobito Corridor and the new airport usher the country into a new era of growth, but access to markets remains a significant challenge for the country,&#8221; he remarked. The Media9 founder believes that &#8220;it is not an overstatement to say that a good business environment is in everyone&#8217;s interest for economic and social growth. We are here to share common solutions.&#8221;

NGunu-Tiny-2cee6cbb

New Infrastructure In Angola ‘Usher In A New Era Of Growth’, Highlights Founder Of Media9

The Prime Minister of Portugal, Luís Montenegro, will visit Angola in July this year as part of the Luanda International Fair (FILDA), announced the Portuguese ambassador to Angola, Francisco Alegre Duarte, moments ago in a message addressed to the participants of the second Doing Business Angola 2024 conference.



In the message projected at the event organized jointly by Jornal Económico and Forbes Africa Lusophone, Francisco Alegre Duarte also confirmed the visit of the Portuguese Minister of State and Foreign Affairs, Paulo Rangel, already scheduled for next week.



“I believe that these visits will give a renewed boost to a relationship that is already very good on the political level, but that can go even further in economic terms. We will work towards that,” he emphasized.



The Portuguese ambassador to Angola also assured that there are what he called &#8220;powerful instruments,&#8221; such as a financing line, a common language, and &#8220;a political or institutional framework marked by a mature relationship, as observed in the joint celebrations of the 50th anniversary of April 25th.&#8221;



Moreover, the diplomat noted that the exports of goods and services by Portuguese companies in Angola exceeded 2 billion euros in 2023. He also mentioned that currently, 1,250 Portuguese and Luso-Angolan companies operate in Angola.



&#8220;These companies have a very strong presence, for example, in the civil construction sector, but also in other sectors, and they create tens of thousands of direct and indirect jobs,&#8221; he highlighted, adding that they have faced some challenges, notably in payment predictability, legal security, exchange rate stability, and access to foreign currency.

Captura-de-ecra-2024-06-18-114615-1-1_750x540_acf_cropped

Portuguese Prime Minister visits Angola in July this year

It is said that good people die early. In the case of Herbert Wigwe, aged 57, it seems too soon. Those who had the privilege of crossing paths with Herbert realized immediately that they had a unique Leader before them. In this moment of pain and grief for his family and friends and faced with the unconformism of the tragedy, it is important to remember his path and honor his legacy.



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="576" height="1024" src="https://cms.forbesafrica.com/wp-content/uploads/2024/02/foto-inserir.jpg" alt="" class="wp-image-61235" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/02/foto-inserir.jpg 576w, https://cms.forbesafrica.com/wp-content/uploads/2024/02/foto-inserir-169x300.jpg 169w" sizes="auto, (max-width: 576px) 100vw, 576px" /><figcaption class="wp-element-caption">N&#8217;gunu Tiny with Herbert Wigwe
</figcaption></figure>



 I remember him as a Leader with unusual personal qualities and a global and humanistic vision. Herbert Wigwe stood out for his outstanding intelligence, fine and polite manners, and for his truly extraordinary decision-making and implementation capacities. He was a man who wanted not only to do things, but to do good and for others: he was a man of the common good. He had two families: Wigwe and Access Group, and he was committed to both. He co-founded and developed a global African institution. Access Bank is today an established African bank in the world&#8217;s main financial and commercial markets, serving 60 million customers (the same as Citi Bank, for example) in more than 17 countries, with assets totaling more than USD 35 billion. Numbers aside, he leaves us a global bank focused on African clients. Herbert was a humanist leader. And it is under this latter condition that he wanted to leave his imprint with the social impact investment in a Pan-African university in his hometown, Isiokpo, Rivers State, Nigeria, offering a new generation the opportunity of receiving world-class education. Wigwe University shall teach the new generation of African leaders and provide “school personality” to millions of Africans in the coming decades. I would also like to remember the man and the friend with whom I have had the privilege of working very closely on common projects and developing a unique friendship in recent years. Last year, on one of our trips, he asked me if I would be available to teach at Wigwe University. As I was about to answer he added, “It&#8217;s not really an invitation. I won’t take no for an answer because the transfer of knowledge is our daily obligation ”. The matter was settled right there! In this moment of deep pain and grief, I bow before the unique memory of Herbert, Doreen and Chizi and I would like to send my heartfelt condolences to his family, loved ones and the Access Group. My feelings are also with the families and friends of the remaining four victims of that fateful moment of Saturday 10 February 2024. Herbert&#8217;s legacy only makes our responsibility even greater. Keep soaring, “H”..! If he was among us, he would answer: “Tiny, No Wahala”. Lisbon, February 12, 2024.

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In memoriam: Herbert Wigwe, Leader, Visionary and Humanist (15 August 1966 – 10 February 2024).

This article has been translated and republished with permission from Forbes Africa Lusofona. This article first appeared <a href="https://www.forbesafricalusofona.com/nigeriano-access-bank-adquire-finibanco-angola-a-montepio-holding/" target="_blank" rel="noreferrer noopener">here</a>. “Our vision remains as clear as ever, as does our determination to seize opportunities inside and outside Nigeria.&nbsp;Angola represents an opportunity for our shareholders to participate in what we believe will generate stronger value as Africa emerges.&nbsp;We remain committed to making these disciplined and well-structured investments to create a strong and holistic platform that will be competitive, diverse and attractive for years to come”, says Herbert Wigwe, CEO of Access Holding Pics, exclusively for Forbes África Lusófona, regarding the binding agreement with Montepio Holding SGPS SA to acquire a 51% majority stake in Finibanco Angola SA



The acquisition, signed after the signing of several agreements (pictured), is subject to regulatory approvals in Nigeria and Angola, and is expected to close in the first half of 2023, after fulfilling the conditions precedent, Forbes has learned.&nbsp;At the same time and in a statement, Banco Montepio adds that “the sale value will refer to the proportion attributable to the Banco Montepio Group in the equity of Finibanco Angola SA, which totals 70 million euros with reference to June 30, 2022, and the adjustments that may be determined within the scope of an audit scheduled for completion in the second quarter of 2023”.



“For MH and for the broader Banco Montepio group, this is an important step in its strategy of concentrating its activity on the domestic market and, at the same time, opening new paths for the future of Finibanco Angola, which it helped to develop during more than a decade under its ownership”, says the document.



For Access Bank, “the transaction furthers the Bank’s strategy of being Africa’s payment gateway to the world, while working with other continent-focused multilaterals to provide robust and efficient payment platforms and ecosystems.”



It should be noted that Access Bank has a network of more than 700 branches and service points on three continents, with 45 million customers.&nbsp;and 28,000 workers in Nigeria, as well as subsidiaries in Sub-Saharan Africa and the United Kingdom, in addition to a subsidiary in Dubai and representative offices in China, Lebanon and India.



Finibanco Angola SA is a commercial bank with more than 20 branches and around US$300 million in total assets that has been operating in Angola since 2008.

Forbes Africa Lusofona