The opening Friday of Angolan Debt and Securities Exchange (Bodiva) is an alternative to finance for investment promotion, Angola’s Finance Minister Armando Manuel said Thursday in Luanda.
The minister said Bodiva would be capture additional savings and would provide Angola with a secondary bond market and help bring in new players who will channel their resources into these securities.
Speaking to Angolan daily newspaper Jornal de Angola, the chief executive officer, Pedro Sérgio Pitta Groz, said Bodiva would begins with trading, initially, of public debt and registration of operations outside the exchange.
Groz said the stock market will start up “in the first half of next year” as the roll out of the stock exchange will be done in phases to allow for national companies to prepare and adapt in terms of accounting standards and governance and management practices. (macauhub/AO)