Young, educated and optimistic, Jose de Lima Massano is typical of a new generation of African leaders.
A product of a post-conflict country that endured a 30-year civil war that ended only in 2002, Mr Massano has risen swiftly. He is chief executive of Angola’s biggest private bank by assets, the Banco Africano de Investimentos (BAI), and head of Angola’s bankers’ association. Set up 12 years ago, BAI is independently controlled, with 8.5% owned by state-owned oil giant Sonangol and 1.5% owned by the Angola national diamond company, Endiama.
Mr Massano helped BAI to become the fastest growing bank in Angola and was a driving force behind the decision to transform it from an investment bank to a universal bank. His ambition is to put Angola on the world stage, but admits it will be a challenge.
“We need to put Angola in the context of today’s developed financial industry and in order to do that, you have to comply with international rules,” he says.
“BAI has to adopt procedures that still have not been established by the central bank. International banks don’t want to see you as bringing risk if you are dealing with them. The more our banks are exposed to international rules, the more the central bank will have to adapt.”
Looking ahead, Mr Massano is optimistic and with good reason. Driven by a booming oil sector, GDP has been one of the highest in the world for the past three years, at between 15% and 20% annually. “People were sick and tired of war by 2002,” he says. “You can go everywhere in the country now and see progress. People are going places. We are discovering Angola.”