Angola’s Debt and Securities Exchange (Bodiva) plans to launch bond and share trading this year, said the chairman of the board of directors, António Furtado, presenting the report and accounts for 2016.
In 2016, Bodiva improved its ability to generate revenue and to contain costs. As a result, Bodiva saw a significant reduction in the loss recorded a year earlier, to 293.9 million kwanzas from 459.6 million kwanzas, according to the Jornal Mercado newspaper.
The 36% improvement recorded was due to increased operating revenues, which only started to be recorded as of June and in the period ended 31 December 2016 totalled 252.9 million kwanzas, from trading commissions, settlement commissions, membership, passwords for access, transfer of securities and closing prices of securities.
Furtado added that “the state shareholder continued to express support for the project by subscribing to a capital increase of 600 million kwanzas.”
The chief executive, Patricio Vilar, pointed out that 2015 was “the launch year of the trading system,” and 2016 was the year of “completion of the market’s infrastructure, with the launch of the clearing house,” responsible the safekeeping, clearing and settlement of securities. (macauhub)