Angola chooses former head of Portuguese market watchdog to coordinate creation of stock market regulator

11 September 2006

Lisbon, Portugal, 11 Sept – The former president of the Portuguese stock market regulator, Costa Lima, has been chosen by the Angolan authorities to coordinate the creation of a similar regulator in the African country, Portuguese weekly Expresso reported.

The Angolan stock market, which was officially launched in March, is expected to begin operating in the third quarter of the year, with around a dozen listed companies, according to official forecasts.

The market will have initial capital of US$16 million and 27 subscribers, including Banco Fomento de Angola and Banco Internacional de Crédito.

Lima was the first president of Portuguese market regulator, CMVM and until recently was head of the Portuguese Investment Agency (API). (macauhub)