Ver Angola


Bodiva members want to create repurchase agreements

Agents of the Angolan Debt and Securities Exchange (Bodiva) defended this Friday the creation of the 'repurchase agreements' market - known as REPO's - for 'market dynamisation' and 'increasing levels of liquidity'.


In the Annual Report of the Bovida 2019 Markets, banking agents, members of the Angolan stock exchange, consider that the implementation of the REPO's market will allow a greater sustainability of the debt market.

According to the Chairman of the Board of Directors of Banco Fomento Angola (BFA), Jorge Ferreira, in the Report consulted this Friday by Lusa, to guarantee "greater depth of liquidity" in 2020, Bodiva "has to make the REPO's market available as soon as possible".

Without this "it will not be possible to develop a sustainable model" that allows the "additional dynamism of the market" and "attracting new investors", can be read in the report.

For the executive administrator of Banco Angolano de Investimentos (BAI), Irisolange Verdades, the main challenges and constraints of the market are the lack of interconnection between the platforms of the banks and Bodiva.

BAI's administrator, who also advocates the creation of the stock market, considers, on the other hand, that liquidity in the market 'will remain hostage to monetary policy guidelines' and 'public debt placement strategy'.

In the document, published on Thursday in Luanda, the chairman of the executive committee of Standard Bank Angola (SBA), Luís Teles, recalled that the Angolan debt market "is not 100 percent net" and there is a need to "ensure greater depth and liquidity".

"The creation of a REPO's market is fundamental to the materialization of this objective, or rather, it is only possible to have a functional debt market if, in parallel, there is that of REPO's", he argues.

An incentive to create conditions for product diversification and the entry of new instruments into the market, such as the REPO's market, of listed stocks and investment funds are defended by the executive director of Banco Keve, Ana Machado.

She believes that these instruments should act as "catalysts" to make the Exchange a place of excellence for investors to "maximize resources, with increased levels of liquidity".

The executive director of Banco Millennium Atlântico (BMA), Eder Samuel de Sousa, considers that one of the main challenges for 2020 is related to "uncertainty about the macroeconomic context", especially the "resumption of real growth, guided by a high rate of inflation".

"The restrictive monetary policy also generates liquidity restriction and, thus, less availability for investment", he says.


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