London, England — 04 July 2013 – The government of Angola has decided to postpone for a year its plans for the possible opening of the country’s stock exchange, the head of the Angolan Capital Market Commission has revealed.
Cited by Macauhub News Agency, Archer Mangueira said while visiting the London Stock Exchange that share trading on the Luanda exchange had been postponed for a year and that negotiations should now only begin in 2016.
But according he admitted that “it may be possible to begin earlier”, something that depends on the exchange’s development process.
Two months ago Mangueira said the Angolan exchange would begin operations in 2015.
The Angolan exchange should have a capitalisation of about 10% of Gross Domestic Product in the first 18 months of operations, and may include the country’s major banking institutions and telecoms companies.
The head of the Capital Market Commission was in London to take part in an international conference on the debt market in Africa. During the visit he also signed a collaboration protocol with the London exchange.
Source: Macauhub News Agency. For more information, click here.