Angola’s stock and debt exchange (Bolsa de Dívida e Valores de Angola – Bodiva) is scheduled to open in late November, the head of the institution, António Furtado, told the state-owned Jornal de Angola newspaper in an interview.
The macroeconomic environment is favourable and the work to begin operations is well under way, Furtado said, adding that the exchange will begin by handling public debt. Plans call for corporate debt to start being listed only in 2015.
“We are moving forward with a view to starting activity before the end of the year, with partners, financial intermediaries, issuers and operators,” he explained.
Furtado specified that companies must be well prepared to be listed. Requirements include good business management, good practices, rendering of accounts and presentation of well-defined corporate bodies.
“Companies listed on the exchange or issuing companies will have to regularly render accounts, which is fundamental for investors,” the head of Bodiva said. Their admission will depend on individual preparation. The banks, for example, “are already well prepared.”
Furtado said the process to consider future issuers had not yet begun but that Bodiva, along with the Capital Market Commission (CMC) would begin to examine the question. The exchange will only begin operations with companies presenting the best conditions for listing.
“Besides banks, there are construction companies listed on foreign exchanges. We think many companies from the food and oil sectors are also ready for the challenge,” he added. (macauhub/AO)