AFRICANGLOBE – The Southern African country of Angola – one of the fastest growing economies on the continent – has announced plans to launch a bourse in the next three years.
According to Angola’s Capital Markets Commission (CMC), the launch could even be earlier if the privatisation of state-owned firms in the oil-rich country is sped up.
According to analyst, Angola plans to privatise about 33 of 90 state-owned firms which it manages.
Reuters reports the bourse will be a likely admission point for external companies that have been dying to enter the seemingly lucrative market. The launch of the stock exchange has however been in the making for more than 10 years.
The international newswire has reported that delays for the launch of the bourse were mostly due to absence of transparency, which upset investors intending to enter Angola.
Angola is Africa’s second biggest oil producer after Nigeria, Africa’s most populous country.
It was reconstructed quickly after the civil war which lasted from 1975 to 2002.
By: Mzwandile Jacks