Angolan capital market has since December 8 the first Securities Distribution Company named Áurea, with the acronym”Áurea-SDVM, S.A, whose aim is the origination and structuring of financial operations in the primary and secondary markets for securities trading.
Created under Presidential Legislative Decree No. 5/13 of 09 October, which approves the Legal Regime of Brokerage Companies and Securities Distributors, the firm enters the market as an alternative for entities that need financing.
The company was created with a share capital of 610 million kwanzas and the main shareholder is Angolan Investment Bank (BAI) with 99.6% and private entities with 0.4% of the shares.
At the public presentation of the company, the Chairwoman of the Board of Directors, Ana Victor, emphasized that Áurea is the first Securities Distribution Company registered in Angola.
In Ana Victor’s opinion, despite the domestic capital market being shallow and with a reduced number of operators, even so Áurea identified a set of opportunities that allowed for the creation of this company.
Among the opportunities are the growing interest of national and international investors in investing in the Angolan market, an exchange policy focused on attracting non-resident investors and attraction of foreign capital.
Also included is the creation of spaces for the emergence of more diversified and innovative offers, investment and savings solutions in the market, as well as the recognition of the capital market in the country’s financial sector development strategy.
On the occasion, the secretary of State for Finance and Treasury, Ottoniel dos Santos, said he believes that Áurea is a real financial intermediary, as the entity that makes the connection between investors and those who need that support.
Otniel Santos added that the Capital Market Commission (CMC), has already traded more than 9 billion kwanzas.
Ludmila Dange, a CMC manager, on her turn, considered the emergence of Áurea a step to achieve a more specialized capital market and to promote a larger volume of business at the level of the sector.
According to the manager, by 2023 the country will have 10 more capital market matrix entities, being four distributing companies and six securities brokers.
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Ludimila Dange underlined that the CMC has 115 registered entities, among which, collective investment bodies, real estate appraisers, intermediation agents and now Áurea.
The Áurea’s CEO, Kelson Cardoso, said his organization intends to be a reference of the sector in the market, since its values are based on transparency, excellence, innovation and independence and quality in the offer.
Kelson Cardoso added the company aims to contribute in three relevant areas: the increase in the volume of transactions in the market, increase in financial literacy, and increase in the supply of products, and a more facilitated access to the market via technologies.