Angola: Bodiva Expects an Increase of 9.4 Billion in Its Transactions

14 March 2024
Angola Press Agency (Luanda)

Luanda — The Angolan Debt and Securities Exchange (BODIVA) plans to increase the value of its transactions from 8.4 to 9.4 billion Kwanzas, assuming a growth of 9% per year in the amount held.

According to the president of the Executive Committee of BODIVA, Walter Pacheco, the respective target is part of the exchange's strategic objectives for the period 2024-2028, projecting the opening of 7,000 custodial accounts/year, increasing from the existing 30,000 to 58,389 accounts.

When speaking at the 5th edition of the BODIVA Forum, held Thursday, in Luanda, he said that the intention is also to increase the current two billion kwanzas of trading volume to 6.5 billion, as well as proceed to the launch, in 2025, of the commodities exchange, with a trading volume of 360 billion Kwanzas.

On the occasion, Walter Pacheco highlighted that, over the 10 years, BODIVA has successfully implemented innovative solutions, resulting in improvements in internal processes, active participation in social and environmental responsibility initiatives, a fact that has strengthened its commitment with the preservation of the environment and society.

In turn, the director of the Negotiations department, Raúl Diniz, stated that the market capitalization had a weight on the Gross Domestic Product (GDP) of 24.22% (61,012 billion) in 2023, against 7, 27% (54,578 billion) from the previous year.

He said that in the period under analysis there was a devaluation of the kwanza of around 65%, as well as a 10% drop in the price of a barrel of oil, with a downward trend.

The president of the Board of Directors of BODIVA, Valentina Filipe, assured that the exchange will continue to work to make the Securities Market the central financing mechanism complementary to the national economy.

She highlighted that BODIVA and all market participants will equally work towards the consolidation of a robust, transparent, efficient and sustainable Capital Market.

Under the motto '10 years of the market: Achievements and challenges', the fifth edition of the BODIVA Forum aimed to present the market report for the year 2023 and debate various topics in the stock market. The event also served to reward the participants with the best performance, as well as to launch the magazine 'A Bolsa'. HM/QCB/DOJ

Read the original article on ANGOP.

Tagged:
Copyright © 2024 Angola Press Agency. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.