Preparations continue for Angola Securities Exchange (BVDA)

Angola will have a securities exchange covering equities and other securities – including derivatives – in 2011, according to a report on the Angolan Press Agency. The report cites remarks by Finance Minister, Carlos Alberto Lopes who was speaking on 28 July in Luanda at a seminar on Insurance and Pension Funds.
The market will be called the Bolsa de Valores e Derivativos de Angola (BVDA).
Sr António Cruz Lima, Chairman of the Capital Market Installing Commission, said arrangements to set up the BVDA are far advanced. Next step being prepared is a shareholders’ general assembly to name the top structures of the exchange. The strategic plan for implementing the bourse is to be announced in September 2010, as will the launch date.
Sr. Cruz Lima said that legislation and other preparations, including human resource development and building technical and technological capacity are now far advanced. He added, according to the report: “There is little left for the BVDA to start, including legislation on investment funds and adjustments of the Capital Market Commission Decree to the new constitutional reality of the country. But I believe now it can be implemented.”
The market has been frequently flagged since 2006 and its launch has been delayed a few times. The story was covered in March, when we interviewed the former Finance Minister, José Pedro de Morais, Jr.
In April and May Imara Securities Angola’s chief executive, Anthony Lopes Pinto, started investment research and is distributing detailed reports to Imara clients and potential investors in the USA, UK and Western Europe.

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