The Angola Debt and Securities Exchange (Bodiva) n 2016 will start listing companies with up-to-date accounts with good management practices, the executive director of the Capital Market Commission (CMC) said in Luanda.
Patrício Vilar said at a seminar on capital markets for members of the 5th Commission on Economy and Finance of the National Assembly (parliament) that the CMC would create conditions for the launch of the stock market, with companies in a “stable” economic situation with “encouraging growth prospects.”
These conditions are part of the Operational Programme for Preparing Enterprises for the Market, carried out by the CMC, through which companies from a variety of industries are advised to adopt transparency and corporate governance practices outlined in the securities code.
According to the director, cited by newspaper Jornal de Angola, if companies do not comply with the general accounting plan, as outlined by international standards, the result is a contraction in investment, particularly foreign investment.
The seminar was part of promotional activities for the Capital Market Commission and comes at a stage where the need to diversify the economy brings new challenges to economic agents that can use the capital market as an alternative source of funding.
At the meeting, the members of the 5th Commission on the Economy and Finance of the National Assembly analysed the state of the secondary market for government bonds, the programme to prepare the companies for the stock market, a financial education programme and admission of the CMC to the international organisation of securities commissions. (macauhub/AO)