Ver Angola

Banking and Insurance

Standard Bank Angola prepares to enter the Luanda stock exchange

The chairman of Standard Bank Angola, Luís Teles, told Lusa that the bank will be listed on the Angola stock exchange "in the next two to three years", after the stabilization of the shareholder structure of this African financial group.


"Yes, Standard Bank can be one of the banks listed on the Angola stock exchange, we still have some work to do to prepare, but I don't see why the bank cannot list a percentage of its capital on Bodiva", said Luís Teles, in an interview with Lusa, on the sidelines of the conference on investments in Angola and Mozambique, which took place last week in Lisbon.

Asked about the deadline for entering the Angola stock exchange, the banker replied: "It depends on other shareholder situations that the bank is currently in the process of resolving, but as soon as the shareholder situation is stabilized, the bank will be interested in carrying out a listing in the next two to three years".

Standard Bank is headquartered in South Africa and is the largest bank operating in Africa, having been operating in Angola for over 12 years and in Mozambique for over 100 years.

"The bank has a lot of experience in the capital market, it has a lot of competence in this area", stressed Luís Teles, recalling that it has been "at the forefront of promoting the development of the capital market in Angola, first being a reference operator, transacting in its own name or of clients in the secondary market, in the primary market, of public debt, and making the first issuance of corporate debt quoted in kwanzas".

In addition, he added, he has "supported IGAP in the privatization program and supported the advisor on the sale of BCI and will continue to support international investors", after having intermediated the first acquisition of Angolan public debt in kwanzas, by foreign investors, something that has already happened again.

"We're going to have more listed banks in the coming months, and some companies too," he concluded.

In Angola, Luís Teles considers that there is a "clear recovery" of the economy, as a result of the reforms introduced in recent years and which is now bearing fruit.

"The economy is going through a huge transition, not only in terms of GDP, with more diversification, a clearer focus on the mining, agricultural and industrialization sectors of the country, with very focused and very incisive policies, and there are already good signs, such as the fall in interest rates and inflation, a much more relaxed situation in terms of public debt, GDP growing more sustainably than in the past, is a clear recovery phase", he stressed.

This, he concluded, is reflected in the assessment of the rating agencies: "The 'rating' agencies are giving positive signals from the 'outlook' point of view and even a potential increase in the 'rating', which is very good because it allows more sources of financing and at a lower cost and gives other options".


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