Angolan government approves legislation to boost the secondary market

9 April 2013

The legal framework for the regulated public debt market in Angola is an important tool to boost the secondary market, the chairman of the Capital Markets Commission, Archer Mangueira said Monday in Luanda.

The document, approved by the Angolan Council of Ministers, will, according to Mangueira, allow for more direct contact between issuer (the Treasury) and investors interested in buying treasury bonds.

Mangueira also said that so far, under the management of the central bank, the primary market had been the focus, whilst the new legal framework is intended to boost the secondary market.

The statement from the Council of Ministers, cited by Angolan news agency Angop, said that a number of documents on capital market regulation had been analysed.

These included the Project for the Legal Framework of the Regulated Public Debt Market, the legal frameworks of Regulated Markets Management Companies, Brokerages and Securities Distributors.

The documents analysed also included the Legal Framework of Collective Investment Bodies, as well as the Business Model for Regulated Market Management Companies and the Organic Statute Programme, as well as an update to the Capital Markets Commission Strategy. (macauhub)