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Country Report Angola Product Image

Country Report Angola

  • Published: July 2014
  • Region: Angola
  • 24 Pages
  • The Economist Intelligence Unit

Angola's long-awaited stock exchange is unlikely to start trading before 2017, according to Patricio Vilar, the executive secretary of the Comissão do Mercado de Capitais.

Angola has been promising to launch a stock exchange for more than a decade, but although there is no shortage of interest from traders and investors-and a number of fund managers have set up offices in Luanda, the capital, in anticipation of the market opening-real progress seems a long way off. Speaking at a conference in Luanda, Mr Vilar cited a number of reasons for the delay, including inadequate corporate governance practices, and a lack of a competitive fiscal regime, educated financial culture and proper negotiations systems. Mr Vilar added that government bond trading would begin this year-although this seems unlikely given that legislation to allow such trading has yet to be passed-to be followed by corporate debt in 2015, with futures trading coming after the stockmarket is finally established.

The announcement of this latest setback does not come as a great surprise given that Angola is renowned for missing its own deadlines across all government sectors: the planned launch of a Eurobond READ MORE >

Country Report Angola

Stock exchange postponed again
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