FACRA’s Governing Board

Supervisory Board

The Supervisory Board consists of three members.

The Role of the Supervisory Board is to:

  • Perform strategic supervision of FACRA;
  • Supervise, review and adjust the investment and disinvestments’ strategy of FACRA;
  • Perform FACRA’s financial supervision and may issue opinions or make recommendations on its financial statements and budgets;
  • Establish legal thresholds for transactions, which also requires the approval of the Investment Committee.

Members:

Sérgio Serrão – Chairman
Jean-Claude de Morais – Member
Raul Silva – Member

Profile of the Members of the Supervisory Board

– Sérgio Eduardo Serrão Sequeira was born on the 6th of June 1951 in the municipality of Caconda in the province of Huila. His academic background involves a General Course of Commerce and Administration and a Law Degree with the option Legal and Economic from the Faculty of Law, both attained at the Agostinho Neto University.

His professional career includes 38 years at the National Bank of Angola (BNA), where he held several roles, including: Treasurer, Section Chief of Credit and Monetary Circulation, Head of Accounting, and Manager. He has also held positions, such as: Provincial Director of Banking in the Province of Huambo, National Director of the Commercial Division of the BNA – Local Currency, National Director of Issuance and Credit, National Director of Accounting and Financial Management, National Director of the Internal Audit Office, and National Director of Risk Management of the BNA.

Throughout his career, Sergio Serrão also participated in various workshops and seminars, as well as in the closing of the Commercial Area of BNA, among other organizational tasks.

– Jean-Claude Bastos de Morais is an entrepreneur, venture capitalist and philanthropist with a deep interest in African socio-economic development. At the core of his philanthropic work is the African Innovation Foundation (AIF), an organization he founded in 2009 to drive African-led development through fostering innovation. The AIF hosts the annual Innovation Prize for Africa (IPA), which was launched in 2011 in partnership with the United Nations Economic Commission for Africa (UNECA). In 2012, the African Union (AU) and the United Nations Economic Commission for Africa (UNECA) passed a resolution to promote an innovation-based society in Africa.

Mr. Bastos de Morais is on the advisory board of the Official Monetary and Financial Institutions Forum (OMFIF) and the University of Cape Town Graduate School of Business. He is also a member of the international Board of Foundation for Globethics.net, a leading global network that advocates ethical corporate and social practices.

Having started his career as a management consultant, he holds a Master of Arts in Management from the University of Fribourg in Switzerland.

 

Investment Committee

The Investment Committee consists of four members who are experts in corporate finance, venture capital, investment banking, and industrial and technological sectors.

The Investment Committee will be considered duly constituted, and able to make decisions, when all of its members are presented or represented.

The role of the Investment Committee is to:

  • Define the investment priorities under the adopted FACRA strategy;
  • Review and validate investment and disinvestment opportunities;
  • Evaluate reports on investments and disinvestments;
  • Revise and approve active management plans for FACRA’s investment portfolio;
  • Approve FACRA’s business plan;
  • Fix the compensation for the members of the Supervisory Board, Investment Committee, Audit Committee and external auditor.
  • Approve the calculation for FACRA’s net asset value.

The decisions on the Investment Committee shall be included in record books in FACRA’s headquarters, which must be signed by its members or their representatives presented at that specific meeting.

Senior professionals may participate in Investment Committee meetings occasionally and without the right to vote, namely academics and experts with relevant experience accumulated in their areas of expertise.

Members:

Marcel Krüse – Chairman
Rui Gourgel – Member
Kanda Kassoma – Member
Teodoro Poulson – Member

Profile of the Members of the Investment Committee

– Marcel P. Kruse is a professional investment banker specializing in areas such as: venture capital, private equity, management of securities, investment funds, mergers and acquisitions, and startups. He has held national and international board level positions, combined with multi-sectorial exposure.

He currently resides in Angola, acting as the Investment Commission President of FACRA. Prior to his role as CEO, he worked at Kwanza Invest Bank, the first Angolan bank dedicated to investment banking. During his time in Switzerland, he became the director of a securities investment fund after having held positions in two leading auditing and consulting firms, namely Deloitte & Touche and PricewaterhouseCoopers.

He holds a Master’s in Management (MSc.) from the Faculty of Business and Economics at the University of Lausanne in Switzerland, and also obtained his Swiss Federal Diploma for Chartered Accountants.

– Rui Gourgel, born in 1962 in Luanda, obtained his degree in Electrical Engineering in 1988 from the Faculty of Engineering at the University A. Neto. During his studies, he attended various postgraduate courses in Business Management and Human Resources, as well as attended an International Faculty Program in 2012 at the IESE Business School in Barcelona.

Since 2009, he has acted as Chairman on the CINFOTEC (Integrated Centre of Technological Training) management board for the MAPESS project. In 2010, he became the Coordinator of the Technical Group / Unit of Public Investments (UIP) for the Civil House of the President of the Republic of Angola. Since 2012, Mr. Gourgel has acted as the Executive Manager of functions / Deputy General Director of LUXERVIZA, and is a visiting professor at the Angola School of Management within the faculty of Enterprise Policy.

Previously, he worked in academia at the Polytechnic Institute Makarenko as well as within the Electrical Engineering department of the Engineering Faculty of Agostinho Neto University. Between 1987 and 1999, he worked as a Monitor, Teaching Assistant, Assistant, and Assistant Professor. From 1999 to 2005, he worked at an electricity company in Angola, Empresa de Electricidade de Luanda (EDEL), where he held various positions prior to becoming the Chairman and Managing Director of the Board. He has also acted as a Member of the Board of Directors for WESTCOR between 2007 and 2012.

– Kanda Nimi Kassoma was born in 1977 in Luanda before moving to London to complete his BA in Business Studies at the University of Middlesex in 1999.

Between 1999 and 2008, he worked as an Investment Analyst at Sonangol, Angola’s national oil parastatal. During this period, he acted as the Director of Finance and Planning on the Leadership Management Control and Investment Analysis Team between 2004 and 2008. In addition, Mr. Kassoma served as a member of the TOP Leadership Group in 2007 for Sonangol’s Distribution segment, ‘G9’. He represented Sonangol in the Redesign team‘s investment management and review process, and was part of the Employee Network Organizational Development Project (ODP) at the Sonangol Group.

Kanda Kassoma has been the Administrator of Etosha SA since 2009. He has also held membership on various committees, such as: Member of the Committee of the Angola Investment Venture Capital Fund; member of the Municipal Committee JMPLA in Luanda; member of the Samba District MPLA Committee; and since February 2014, member of the Municipal Committee of the WCO in Luanda, which is integrated in the Audit and Discipline.

– Teodoro Jesus Poulson serves as a Member of the Investment Committee of the Fundo Activo de Capital de Risco Angolano (FACRA). His training as an economist enables him to lead the overall investment strategy of the Fund and the provision of investment opportunities in Angola as well as throughout sub-Saharan Africa.

Prior to this, Poulson worked as a money market trader between 2003 and 2013 at the National Bank of Angola (BNA). During this period, Poulson was responsible for asset management of the bank’s investment portfolio, and also worked as a BNA External Debt Analyst. Alongside these duties, he lectured as a Professor of Macroeconomics at the Institute of International Relations and Social Sciences in Angola.

Poulson has a graduate degree in International Trade from the Faculty of Law at the Agostinho Neto University (UAN) in Luanda, and an undergraduate degree in Economics and Management from the Jean-Piaget University of Angola.

MANAGING ENTITY

FACRA is administered by a managing entity which legally represents it. The managing entity is responsible for the selection of investment proposals, analysis of the projects and their posterior submission to the Investment Committee.

Audit Committee

The Audit Committee consists of three members, including a certified and independent accountant nominated by the Ministry of Finance.

Other roles of the Audit Committee includes:

  • Strategic supervision of FACRA;
  • Supervision, revision, and adaptation of FACRA’s investment strategy;
  • FACRA’s financial supervision, having the right to opinionate or create a set of recommendations on FACRA’s financial statements and budget;
  • Analysis and discussion of FACRA’s socioeconomic results and its comparison with pre-established goals as well as having the right to share opinions or recommendations;
  • Advice on the execution, amendment, complaint, resolution and rescission of loan contracts, guarantees and contracts involving amounts in expenditure or liabilities by FACRA.
  • Monitoring activities of the Audit Committee and FACRA’s external auditors.

The resolutions of the Audit Committee must be approved by a simple majority, except for certain matters, which must be approved unanimously.

The Audit Committee is responsible for the validation of FACRA’s financial accounting report.

Members:

*The president will soon be announced
Fernando Hermes – Member
Luis Silva – Member