The Capital Market Commission (CMC) expects to launch a programme dubbed “Capital Market Incubator for Small and Medium Companies”, in May this year, with the aim to increase the levels of financial literacy and contribute to the economic development of Angola, its CEO Maria Uini Baptista said Friday.
Maria Uini Baptista explained that the launching of the programme is waiting for the fulfillment of some agreements and commitment letters with the partners.
“The programme would already be in operation, but we had a situation with the partners, since they will be the accelerators, the incubators and the auditors, as well as with some entities that finance projects. I’m talking about the International Finance Corporation (IFC), the African Development Bank (ADB), among others”, she disclosed.
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Maria Baptista, who was speaking on the 17th anniversary of the CMC marked on March 18, said the incubator’s objective is to create a kind of “nurseries”, where the companies will be endowed with financial reporting techniques, corporate governance and reporting in general.
Maria Baptista indicated that with this programme the intention is to organize companies, so that in 4 or 5 years they get the necessary skills for their development.
The CMC is a legal entity under Public Law, subject to the supervision of the President of the Republic and the Ministry of Finance.
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CMC’s mission is the regulation, supervision, inspection and promotion of the securities market and of the activities involving all the agents that intervene in it, directly or indirectly, under the terms of the Presidential Decree no. 54/13, of June 6th (Organic Statute of CMC).
