Ver Angola

Economy

President of AECIPA: companies “resist” the stock exchange due to “lack of a culture of good governance”

The president of the Association of Petroleum Industry Contracted Companies in Angola (AECIPA) considered that Angolan companies "resist" opening their capital on the stock exchange for "lack of a culture of good governance" and "ignorance of opportunities".

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Braúlio de Brito, who spoke at the end of a forum promoted by the Angolan Debt and Values ​​Exchange (Bodiva) admitted the existence of a dilemma at the level of national companies, namely between the need for growth and available resources.

"We have this challenge, this dilemma, companies want and need to grow, but there is still no culture of good governance and also a lack of knowledge", at the level of national companies, he pointed out.

"Bodiva is, for all intents and purposes, still a new organism in the context of the Angolan economy and we are all in the process of learning and better understanding the potential and opportunities it offers", said Braúlio de Brito, after the forum.

For the leader of AECIPA, there is still "a long way to go" in the learning process, so that one can "have companies taking advantage and make the most of the financial opportunities that Bodiva really offers".

The world requires "a lot of financial strength" and it is necessary for companies "to embark on a process of improving their governance processes, greater transparency, 'compliance'", he stressed.

"And these are the procedures that still lead some resistance today for companies to run to the opportunities of the stock exchange," he admitted.

According to this official, the supervising body "recognizes, unquestionably, the potential of the stock market", a reason that led to the signing of a memorandum of understanding with Bodiva for "greater closer relations" between the two institutions.

"But, above all, to create a communication and knowledge transfer mechanism for companies", he stressed.

Braúlio de Brito was one of the participants in the debate on the "Market in Action", which addressed the preparation of companies for the launch of the stock market, promoted this Thursday, in Luanda, by Bodiva.

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