THE ANGOLA DEBT AND SECURITIES EXCHANGE
The Angola Debt and Securities Exchange – a Regulated Markets Management Company (thereafter referred to as BODIVA) is a corporation with public capital incorporated in 2014, whose corporate objective is the management of regulated markets, which also may carry out related activities, namely:
• Services related to the issuance and trading of financial instruments that do not constitute financial intermediation;
• Elaboration, distribution and commercialization of information related to markets for financial instruments;
• Acting as a central counterparty in the negotiation of financial instruments;
• Management of clearing and settlement systems for financial instruments;
• Management of centralized securities system;
• Fulfill all necessary acts for the clearing and settlement functions and management of a centralized securities system
– BODIVA MARKETS (SECONDARY MARKET)
Regarding the organization of the secondary markets managed by it, BODIVA adopts the following structure:
Of the above-mentioned markets, only the Registry of Securities Transactions Market (MROV) and the Treasury Stock Exchange Market (MBTT) are active.
• Treasury Exchange Market (MBTT);
• Private Bond Exchange Market (MBOP);
• Stock Exchange Market (MBA);
• Participation in Investment Funds Exchange Market (MBUP).
Organized Over-the-Counter Market
• Market for Registration of Securities Transactions (MROV).
The first market segment BOVIDA made available was the MROV, in May 2015. The first operations registry took place at that time. The same year, the Securities Code was approved.
The Securities Code establishes the legal organization of the stock market instruments and derivatives, regulating the system of supervision and regulation of securities, issuers, public offerings of securities, and respective infrastructures, prospectuses, services and activities in investments in securities and derivative instruments, as well as the respective sanctioning organization.
In November 2016, the first negotiation of Public Debt securities took place, which allowed the launch of MBTT.
It should be noted that only the Registry of Securities Transactions Market, and the Treasury Stock Exchange Market are active.
It is important to realize that the management of securities in the primary market was transferred to BODIVA in 2018. With this, BODIVA became responsible for conducting the auctions of treasury bonds.
The Central Securities Exchange of Angola (CEVAMA thereafter) was launched in 2016 with the goal of allowing the custody (protection) of securities, Compensation of Operations for the Clearing and Settlement of Business, carried out on the Exchange.
In addition, CEVAMA provides the following services:
• Dematerialization of securities;
• Corporate income distribution events;
• Settlement of business;
• Automatic portfolio reconciliation.
– BODIVA MEMBERS
Financial intermediation services are provided by financial institutions authorized by the supervisory body of the securities market to provide investment services and activities in transferable securities and derivative instruments in Angola.
The BODIVA members (below in Portuguese) authorized to provide the above services are:
• Banco de Fomento Angola
• Banco Angolano de Investimentos
• Banco Millennium Atlântico
• Banco de Poupança e Crédito
• Banco SOL
• Banco BIC
• Standard Bank Angola
• Banco de Negócios Internacional
• Banco Regional do Keve
• Banco Prestígio
• Banco de Comércio e Indústria
• Banco Económico
• Banco Caixa Geral Angola
• Banco Credisul
• Growth SCVM (correctora)
• Madz SCVM (correctora)
• The bonds indexed to the USD represent more than 95% of the amount traded;
• Treasury bills represent 2%;
• Non-readjustable Bonds 2%.
– INVESTOR PORTAL
The Investor Portal is an initiative of the Ministry of Finance under the management of BODIVA. Through the portal, securities representing the State are sold to a private individual or a legal entity via the internet.
To invest in Treasury Securities, the buyer must possess an IBAN, an active Custody Account, an E-mail, and a valid Tax Identification Number. Payments are made via ATMs.
When buying Treasury Bonds, the Investor lends money to the Angolan government in exchange for the right to receive in the future (as the bond matures) a remuneration for the loan. Meaning, the investor will receive the amount of the loan, plus the interests on this loan.