Angola Stock Exchange continues registration of operators

14 October 2015

The Angola Debt and Securities Exchange ​​(Bodiva) this month expects to register ten entities and by the end of the year half of the operators of the Angolan financial system, the president of Bodiva told Angolan state newspaper Jornal de Angola.

António Furtado said the Exchange had registered six commercial banks and is considering registering Banco de Poupança e Crédito (BPC) and Banco Keve, as well as two brokerages.

Banco Angolano de Investimento (BAI), Banco Fomento Angola (BFA), Banco Millennium Angola (BMA), Standard Bank and Banco Internacional de Negócios (BNI) are already registered on the stock exchange.

Furtado said that up to 30 September Bodiva had traded Treasury Bilsl worth a total of 54 billion kwanzas (US$397 million), higher than the amount recorded by the end of July, of 22 billion kwanzas.

The Capital Market Commission (CMC) has an ongoing Operational Plan for Preparation of Companies for the Stock Market (POPEMA), through which it is persuading business decision makers to adopt good practices in order to enter the stock market. These practices include financial reporting and restructuring, business management and knowledge of the legal and regulatory framework of the capital market.

“Financial reporting means having organised accounts and restructuring is related to the balance of accounts before considering an approach to the securities exchange” for financing and business management refers to the need for companies to be managed in a transparent way.

“The greater the transparency, the greater the possibility of the securities representing these companies will be acquired and traded in the market,” said the president of Bodiva. (macauhub/AO)