Angola stock exchange expects US$12 billion annual turnover

2 February 2006

Lisbon, Portugal, 02 Feb – The Angola Stock and Derivatives Exchange (BVDA), due to be set up this year, is expected to launch with annual turnover of close to US$12 billion, a Ministry of Finance spokesperson said.

The same spokesperson told Portuguese financial daily Jornal de Negócios that the new exchange would list the largest state companies in the country – Sonangol, Endiama and ENSA–Seguros de Angola.

Listing these three companies on the bourse would imply a public offering of part of their capital, which is currently 100 percent held by the Angolan state.

The Ministry of Finance also expects the main commercial banks in the country to be listed on the exchange, including state banks Banco de Poupança e Crédito and Banco Africano de Investimentos.

Banco de Fomento de Angola, owned by Portugal’s BPI, is also due to be listed. At the end of last year the bank was number one in the country’s loan ranking.

The government program set out to launch the exchange between 2005 and 2006.

The president of market watchdog, Comissão do Mercado de Capitais (CMC), Cruz Lima, told Jornal de Negócios that the project had entered the operational installation phase. (macauhub)