Angola to open a stock exchange

Speaking on Wednesday, 12 December 2007, at a conference on the importance of the Market Capital and its juridical, legal frame in Angola, Rui Migueis de Oliveira said the country was going through a unique moment in its history that required financing alternatives for the private sector, one of which was the capital market.

The Angola Stock Exchange and Derivatives Market, whose launch is expected in 2008, has 27 subscribers, involving US$16 million.

The Deputy Governor said the existence of a capital market in the country, through a stock exchange, would enable investors to render lucrative their financial assets, placing them at the disposal of both the State and firms.

He added that this alone would permit the country's development in certain segments, and create an environment enabling the local businesses to keep pace with modernisation and take part in the global economy.

The BNA Deputy Governor also said the creation of a strong capital market constituted, above all, an economic and positive challenge to the country, and the best policies should be sought, so that everything would proceed smoothly.

He explained that the capital market would bring about advantages, as it would force companies to take a correct stand in the market, publishing regularly their records and taking competitive initiatives which favour them.

The capital market is an appropriate place where bonds and shares are traded with the purposes of attracting excess liquidity and placing them at disposal of others and even of the State, as a way of financing of their projects and investments.

Article published courtesy of BuaNews