Ver Angola


Bodiva will open a segment to small and medium-sized companies to be able to finance themselves

The Angolan Debt and Securities Exchange (Bodiva) will open “within one or two months” a specific segment for bonds of small and medium-sized companies, a person in charge of that entity revealed this Thursday.


The coordinator of the Market Development department, Nivaldo Matias, who was speaking at a clarification session on the public offer for sale of Banco Angolano de Investimentos (BAI), explained that the decision is the result of work carried out with the market to understand why it is that many companies did not adopt this form of financing.

At issue are the requirements and costs associated with the process, namely the obligation to be in activity for at least three years, a minimum issue of 60 million kwanzas, mandatory reporting and accounts and management of recent years, among others, which many companies fail to meet.

"We made a recommendation to amend our regulation with the regulator so that small and medium-sized companies [SMEs] could also evaluate this possibility. In a month or two we will have the possibility to open a specific segment for SMEs where the audit component to accounts can be made by an expert accountant", said the head of Bodiva.

This decision will reduce charges "allowing SMEs to look at the capital market as a possibility to balance their sources of funding", he added.

Nivaldo Matias indicated that there are already many companies that see the capital market as fundamental for the expansion of their activity and balance their financing base and stressed that the world is attentive to what happens in Angola, so companies that intend to be competitive must keep up with new trends in terms of strategy and corporate governance.

"Foreign investors are attentive to Angola and would like to see more instruments so that steps can effectively be taken to increase what is the capital market", he underlined, referring to the recent case of a foreign investment of ten million dollars, in debt public, which could eventually be diversified.

The support program for financing small and medium-sized companies, called "Emergents", was launched on 4 May by the Capital Markets Commission (CMC).

The initiative is part of actions to promote the capital market, allowing the national economy to have more and more diversified financing options, such as 'crowdfunding' and venture capital, according to a statement released at the time by the CMC.


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