The opening of Angola's Stock Exchange scheduled for December 2014

Jul 31, 2014

Angola's Stock Exchange (Bodiva) will be officially launched in December 2014, it was announced last week.

Angola's
Stock
Exchange
(Bodiva) will be officially launched in December 2014, it was announced last week.

"We will launch during the second half of the year, in December. We will start operations with segments of the public debt," said Chairman of the Board of Directors, António Furtado, cited by Angola Press news agency.

The second oil producer in Africa after Nigeria has signed cooperation agreements with financial authorities in South Africa, Cape Verde, United States, Namibia and Botswana.

"The aim is to strengthen the respectability of Angola and to align with international best practice in terms of regulation and supervision of financial markets," said Vera Daves, a member of the Capital Market Commission - in charge
of
promotion and regulation of financial markets - quoted by Le Figaro.

The launch of an Angolan financial market is part of the government's strategy to strengthen the national currency, the Kwanza, and move away from the Dollar in a bid to diversify its economy, heavily dependent on oil.

Angola has had an average growth rate of ten per cent over the last decade thanks to its oil revenues, but the majority of its population still lives in extreme poverty.ADNFCR-2976-ID-801739049-ADNFCR