Ver Angola


Stock exchange with “good governance” and balance sheet of about nine million dollars prepares for privatization

The Angolan Debt and Stock Exchange (Bodiva) announced this Wednesday that it has a balance sheet of around 9 million dollars, with 70 percent liquidity, and that it is preparing “hard” for privatization.

: Ampe Rogério/Lusa
Ampe Rogério/Lusa  

Bodiva's transition process in the market should end in the first half of 2024, as its chairman of the executive committee, Walter Pacheco, made known, noting that steps have already been taken towards the total privatization of the stock exchange.

"We already have all the company's preparation, all the information compiled, we have all the instruments to demonstrate to the market that Bodiva is a privatizable company", said the official.

On the sidelines of the IV Bodiva Forum, held in Luanda, Walter Pacheco realized that the stock exchange has not yet been privatized because it is in the process of transition in the market, defined by the National Bank of Angola (BNA) and the Capital Market Commission (CMC).

BNA and CMC "decided to separate investment activities, that is, banks will no longer be able to operate directly in the market and this will create a set of constraints and opportunities, so we think it is good to overcome this transitional phase and, as soon as we overcome we are going to privatize Bodiva", he justified.

"By the end of the first half of 2024, the (transition) process will be 100 percent completed", he assured.

Bodiva "is a company with audited accounts, with information disclosed in a timely manner, it is a profitable company, with good governance, it has everything to be a privatized company and we will give opportunity to everyone", he stressed.

The total privatization of Bodiva is included in the Government's Privatization Program (ProPriv), which includes the privatization of companies and/or public assets in the telecommunications, banking, industry, insurance, agriculture and livestock sectors and others.

Questioned by Lusa about the amounts they estimate to raise with the privatization of the stock exchange, Walter Pacheco said that it will depend on several factors, "fundamentally on the assessment that is made and the interest of the investor".

But Bodiva, he added, has a balance sheet of around 9 million dollars and "of that balance sheet, 70 percent of Bodiva is a net balance, that is, 70 percent of Bodiva is liquidity, financial resources."

"In other words, whoever buys Bodiva will essentially be buying currency, deposits. Therefore, we have a very conservative management, very dedicated to the objective of preparing a good company to be privatised", concluded the chief executive of Bodiva.

"The Growing Market" was the theme of the IV Bodiva Forum, which brought together specialists from the sector from Mozambique and Cape Verde, when the 2022 Bodiva Markets Annual Report was presented.


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