December 14, 2007

Country to open a stock exchange

The Deputy Governor of the Angola Reserve Bank (BNA) has announced the establishment of a local stock exchange. It would help diversify means of financing of the national economy and enhance transparency in financing public and private firms, Rui Migueis de Oliveira said. He emphasised that the country was going through a unique moment in its history that required financing alternatives for the private sector, one of which was the capital market.
The Angola Stock Exchange and Derivatives Market, whose launch is expected in 2008, has 27 subscribers, involving $16 million. De Oliveira also said the existence of a capital market in the country, through a stock exchange, would enable investors to render lucrative their financial assets, placing them at the disposal of both the State and firms. He added that this alone would permit the country's development in certain segments, and create an environment enabling the local businesses to keep pace with modernization and take part in the global economy. (BuaNews, Tshwane)

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