Macao's casino czar Stanley Ho plans to set up a bank in Angola, a Portuguese-spoken nation in Africa, local media reported Tuesday.

The Macao Post Daily quoted Ho as saying that the Angolan government has granted a license to the bank.

Ho is to increase his business presence in the Portuguese- spoken countries over the next few years, he told the newspaper.

The casino mogul is running 16 of Macao's 19 casinos and other businesses including banking.

Source: Xinhua