Ver Angola

Economy

Bodiva wants to launch a goods market to finance agriculture

The Angolan Debt and Stock Exchange (Bodiva) is studying the creation of a merchandise market to trade agricultural products and help finance this sector, an official from the entity announced.

: Lusa
Lusa  

According to Nivaldo Matias, director of Bodiva's market development department, who was speaking this Tuesday at a meeting with journalists, Bodiva wants to be a strategic partner in the Angolan financial system and be at the service of the economy.

It is therefore evaluating new markets that could help solve some problems, namely exchange rate risks.

In 2024, it intends to launch a foreign exchange market that is being prepared with other players such as the National Bank of Angola (BNA) and commercial banks "to mitigate exchange rate risk" and give more "peace of mind to Angolan taxpayers and foreign investors", introducing instruments that can protect their interests.

From the same perspective, Bodiva is studying the creation of a merchandise market "to transact agricultural products produced in our country in our financial market", he highlighted.

Nivaldo Martins considered that this is an essential market for Angola and that it can reach large trading volumes.

Those responsible for Bodiva are collecting experiences from other countries where similar scholarships already exist, such as Ethiopia, and have already created a working group to prepare the project.

Raul Dinis, director of the Negotiation department, told Lusa that among the products that could be included at an initial stage are salt, wheat and corn, the price of which will be defined by market supply and demand.

In 2024, studies, survey and preparation of the project should take place, which, ideally, will be launched in 2025, he indicated.

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