Opening of Angola’s stock exchange postponed until 2016

4 July 2013

Angola has postponed for a year plans for the possible opening of the Luanda stock exchange, the head of the country’s Capital Market Commission said recently during a visit to London.

Cited by the Bloomberg financial agency, Archer Mangueira said at the London Stock Exchange that share trading on the Angolan exchange had been postponed for a year and that negotiations should now only begin in 2016.

But according to the agency Mangueira admitted that “it may be possible to begin earlier”, something that depends on the exchange’s development process.

Two months ago Mangueira said the Angolan exchange would begin operations in 2015, Bloomberg reported.

The Angolan exchange should have a capitalisation of about 10 percent of Gross Domestic Product in the first 18 months of operations, and may include the country’s major banking institutions and telecoms companies.

The head of the Capital Market Commission was in London to take part in an international conference on the debt market in Africa. During the visit he also signed a collaboration protocol with the London exchange. (macauhub)