The start of stock trading is the next step in Angola’s bid to lure overseas investors into Africa’s second-largest oil producer. The nation’s economy has been on an upswing after it exited five years of recession in 2021 and had its credit rating upgraded by Moody’s Investors Service. For Bolsa de Divida e Valores de Angola, or Bodiva, the nation’s past economic woes meant that it had to keep delaying the start of equities trading that was initially planned for 2015.
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President Joao Lourenco’s government has also embarked on an ambitious privatization program, which has earmarked 195 assets for disposal. Angola completed a program with the International Monetary Fund last year.
The nation’s gross domestic product is forecast to expand 3% this year, according to the IMF.