The Angolan government approved the first set of laws that will make way for the creation of the stock exchange in the country on 9 October 2013, a date that will go down in Angolan economic history, said the chairman of the Capital Markets Commission (CMC), Archer Mangueira.
On 9 October the Legal Framework of the Regulated Public Debt Market, the legal frameworks of Regulated Markets and Financial Services Management Companies, Brokerages and Securities Distributors, and the legal framework for Collective Investment Organisations came into force.
The legal framework for the Regulated Public Debt Market, alongside stock exchange trading mechanisms and the organised over-the-counter market, creates the regulated public debt market as another trading system, through which Angola public debt securities can be listed, as financial instruments that can attract the interest of investors in the financial market.
In a statement cited by Angolan news agency Angop, Mangueira said that he first transactions on the Angolan stock market would be of public debt securities, “an instrument that makes it possible to meet the State’s financing needs whilst also paying the people and companies that invest in them.”
“The fact that it is an investment without risk or with almost no risk, in that these securities are guaranteed by the State itself, gives this public debt market a great benefit which is that it shows us an income curve upon which all other market segments can be designed,” said the chairman of the CMC. (macauhub)