Interesting looking at who Banco Angolano de Investimentos’...

Interesting looking at who Banco Angolano de Investimentos’ (BAI) main investors/owners are.

Sonangol, the state-owned oil company and

Endiama, the state-owned diamond company.

So we have MNB now with the Government as it’s major shareholder, wanting to borrow from a Bank whose major investors is the Government.

I think even Mech could work out the ramifications of that.

After the issue of shares to the SWF, they’ll own 17.8% of Minbos.

“The syndicate” will be diluted to 9.4%

The Top 20 presently own 39.7%, that will be diluted to 33.1%

All up, just over 60% will be held by very sticky hands.

Having the Government on the register, with their own money invested will have profound long term benefits.

For example what do you think the chances are of getting those extra leases?

What chance do you think someone like Andrew Forrest would have in pinching our cheap hydro power?

The register is also so tight that a hostile takeover is very unlikely to occur

One thing about Africa, unlike Australia is they look after their own.