Angola to have commodities exchange

22 January 2015

The Capital Market Commission (CMC) of Angola will this year prepare a study with the aim of opening a Commodity Exchange to trade agricultural and livestock commodities contracts, CMC director Vera Daves said in Luanda.

Initially, Daves said, the Commodity Exchange will trade spot products, that is, “the buys pays for and immediately receives the product.”

The exchange, which aims to bring together large, medium and small farmers from around the country, “wants domestic production and to bring together into one space, the entire national production chain,” added the CMC director, on the sidelines of the 3rd Annual CMC Staff Meeting held in Luanda.

“We want some entities such as the Ministries of Trade and Agriculture to take part in this study so that together we can decide on the method for opening the exchange,” he said, cited by daily newspaper Jornal de Angola.

During the opening ceremony, the president of the Capital Market Commission, Archer Mangueira, called for easier access to financial services, as a facilitator of economic growth and development of the country.

A financial information programme, which aims to help Angolans handle their personal finances and invest in the stock market, is being developed by the Financial Literacy Office of the Capital Market Commission. (macauhub/AO)