Angolan government creates Capital Markets Structural and Management Commission

20 January 2011

Luanda, Angola, 20 Jan – The Capital Markets Structural and Management Commission in Angola will be charged with presenting the short and medium term strategy for the country’s capital market, according to a statement issued by the Angolan presidency.

The statement issued in Luanda also said that the new commission would design a structure for the Capital Markets commission, in order to provide human resources and materials needed to draw up the technical standards needed for the operation and regular supervision of the capital market.

According to Angolan news agency Angop, the commission will be involved in creating conditions to ensure, in the medium term and in a sustainable way, the institutionalisation of the capital market.

Thus a new strategy is required, which is more in line with the policies of the Angolan government, with the aim of improving the large macroeconomic variables, Angop reported.

Meanwhile, the Minister of State and Head of the Civil House of the Presidency, Carlos Feijó said that the long-delayed Angolan stock Exchange would not start operating this year as many of the country’s companies do not meet the requirements for listing on the exchange.

“It is clear that the commercial, business and legal situation does not make it possible for us to have a stock exchange operating this year,” the minister said cited by Angolan news agency Angop. (macauhub)