The African Bank of Oman has been launched in Luanda, the capital of the Republic of Angola, as part of efforts to advance Oman Vision 2040, which aims to diversify national income and strengthen the Sultanate’s global investment presence.
This landmark initiative reflects the Sultanate of Oman’s ongoing commitment to reinforcing its financial footprint in Africa’s emerging markets and consolidating its role as a recognized source of financial and institutional expertise within the international financial sector.
The launch of the bank marks a new milestone in the deepening of economic relations between the Sultanate of Oman and the African continent.
Its establishment comes at a time of profound economic transformation in Angola, as the country advances its long-term national development plan, Angola Strategy 2050, which prioritizes economic diversification, the acceleration of privatization programs, infrastructure development, and the opening of productive sectors to international investment.
The African Bank of Oman is positioned as a cross-border investment banking institution incorporated in Angola with an international reach. It is designed to facilitate capital and trade flows between Angola, Middle Eastern countries, and neighboring African markets, guided by Omani financial governance standards and expertise in building transparent, sustainable, and compliant banking models.
Image Credits: ONA | Cropped by GBN
The launch of the African Bank of Oman aligns with Oman’s strategy to expand global economic partnerships and strengthen its presence in emerging markets. The bank is expected to open new financial corridors between Oman and Africa, support bilateral trade and investment, and enable Omani companies to tap into opportunities across the continent, reinforcing Oman’s role as a financial bridge between the Middle East and global markets.
It also aims to enhance the trade and investment finance ecosystem by offering specialized financial solutions that support corporate expansion into Africa, while enabling African firms to connect with investors and partners in the Middle East.
HH Sayyid Theyazin bin Haitham Al Said Deputy Prime Minister for Economic Affairs – Oman
“We welcome the establishment of the African Bank of Oman (ABO), which embodies the economic diplomacy approach championed by His Majesty Sultan Haitham bin Tarik. This approach seeks to enhance the Sultanate of Oman’s investment and economic presence on the international stage, affirm its role in connecting global markets, and solidify its position as an investment and financial bridge linking the Middle East to emerging global markets, built upon the pillars of stability, trust, and the deep-rooted international relations for which Oman is widely recognized. It will deepen economic ties with Africa and its emerging markets, enhance Oman’s regional and international reputation, and promote the Sultanate as a trusted investment partner.”
Abdulsalam bin Mohammed Al Murshidi, Chairman of Oman Investment Authority (OIA), said the African Bank of Oman marks a strategic step to expand Oman’s investment footprint regionally and globally, in line with Oman Vision 2040 goals to diversify income and build financial platforms in emerging markets.
Al Murshidi described the African Bank of Oman as an integrated financial platform to boost capital, trade, and investment flows between Oman and Africa, particularly Angola, which he identified as a key strategic partner with strong economic potential. He said that the initiative will strengthen Oman’s role as a bridge between the Middle East and Africa by transferring financial expertise and improving investment efficiency, creating sustainable value for both sides.
Rep. Image Credits: African Bank of Oman | Cropped by GBN
The Chairman added that the bank will support Omani companies expanding abroad and contribute to Angola’s development by financing strategic projects and enhancing trade and investment finance. He noted the project forms a cornerstone of long-term Oman-Africa economic ties, with OIA committed to deeper partnerships focused on integration, technology transfer, sustainable growth, and expanding Oman’s global economic presence.
African Bank of Oman: Core pillars of operation
The African Bank of Oman will operate across three core pillars:
Facilitating cross-border payments
Delivering corporate banking services such as trade finance, guarantees, and liquidity management
Providing advisory and project financing in key sectors including oil and gas, mining, manufacturing, and logistics.
The African Bank of Oman will focus on sectors central to Angola’s economy, including oil and gas, consumer goods, mining, infrastructure, transport, and logistics, all of which are witnessing strong growth under national development plans.
In its initial phase, the African Bank of Oman aims to serve around 50 multinational corporations, local businesses, and government entities in Angola, with plans to gradually expand its services to boost trade and investment flows between Africa and the Middle East and strengthen Angola’s role as a regional financial gateway.
