Africa-Press – Angola. The reforms implemented by the Angolan Government since 2018 should also result in a greater attraction of foreign investors via the Capital Market as a result of the opening of a Capital and Financial Account in Angolan banking.
As it is an account that allows the foreign holder to transfer their assets to a given country, the managers of the Capital Markets Commission are convinced that this instrument should be further promoted and investors closer to the Securities Market.
According to the chairman of the Board of Directors of CMC, Maria Uini Baptista, the reforms implemented by the Executive, with emphasis on the opening of the Capital Account with a focus on simplifying processes, are one of the positive points for attracting foreign investment.
Dialogue Platform
Maria Uini Baptista made these statements at the workshop on “Challenges of investment by non-residents of foreign exchange in the capital market”, held last Thursday in Luanda.
The objective of the meeting was to have a platform for dialogue with regulatory bodies, managers and operators, to ensure that the instruments available on the market, which are already on offer, have the due demand, both internally and externally.
CMC’s PCA recalled, on the occasion, the carrying out of a portfolio investment operation in the Public Debt Market, intermediated by an Angolan bank, in the amount of 9.5 million dollars, in the first quarter of this year, which denotes the environment favorable to investment in the country.
The new Notice for foreign exchange non-residents, no. some research presented by Standard Bank.
The head of Trading at Standard Bank’s Trading Room, Auriano Santos, informed that the foreign investors surveyed recognized the advances in the capital market and highlighted the offer of regular primary auctions. However, he continued, they warn about the lack of “offshore” liquidity for other markets that the targeted investors trade, as well as the delay associated with opening a bank account in the country, among others. The Capital Account is the one that records transfers of migrants’ assets in a given country.
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