Angola is finally moving to launch stock and debt markets after years of delays, the head of the Capital Markets Commission said on Thursday, and the country has approved laws to regulate them, in one of Africa's fastest-growing.
A Luanda bourse has been in the blueprints for more than a decade but delays, most due to a lack of transparency.
The Capital Markets Commission plans to open a secondary debt market next year and a stock market in 2016, and has already identified several eligible private companies, including banks, telecoms, and retail operators.
"With these laws, Angola creates the conditions for the securities markets to be able to operate," CMC President Archer Mangueira said in a statement. Adding "The first securities market operations in Angola will be done with public debt paper, an instrument which help satisfy the state's financing needs and also remunerates people and companies that invest in it."
Angola is Africa's No.2 oil producer after Nigeria.
Source: Reuters
