Angola to establish its own Stock Exchange
Financial authorities in Angola have announced their intention to set up a national financial market within two years.Financial authorities in Angola have announced their intention to set up a national financial market within two years.
Archer Mangueira, chairman of the Capital Market Commission, explained that the initial capitalisation would be at $11 billion, which represents ten percent of the 2012 GDP in Angola, Agence Ecofin reports.
In preparation, the Angolan authorities will launch by the end of this year a secondary debt market to calibrate a yield curve with equal maturity for government bonds and treasury bills. A legal and regulatory framework is also being validated.
A stock market can be an essential tool for a developing economy - as it helps increase business operations - contributing in return to economic growth.
InvestingInAfrica.net indicates that in May 2012, six stock markets (Kenya, Mauritius, Namibia, South Africa, Uganda and Zambia) had increased by at least 27 percent within three years.