Angola’s Stock Listings to More Than Double by 2027

AFRICAN STOCKS AND FINANCENovember 18, 2024 at 3:50 PM UTC

TLDR

Angola’s stock exchange, Bodiva, anticipates doubling listings by 2027 with the debut of major companies.
Bodiva recently entered the market via an IPO, offering 30% of its shares for public investment.
Future listings in 2024 to feature Banco de Fomento Angola, Unitel, Endiama EP, and Sonangol with a focus on attracting foreign investments by 2027.

Angola’s stock exchange, Bodiva, is set to see listings more than double by 2027 as some of the nation’s largest companies prepare to go public, CEO Walter Pacheco said. Currently hosting four listed companies, the Luanda-based exchange aims to reach 10 listings in three years.

Bodiva itself debuted on the market this week, offering 30% of its shares in an IPO. Upcoming listings in 2024 include Banco de Fomento Angola, the Angolan unit of Standard Bank Group, and telecommunications giant Unitel.

The government also plans IPOs for state-owned diamond company Endiama EP and oil giant Sonangol. However, Sonangol’s listing timing remains uncertain, with efforts focused on attracting significant foreign investment by 2027.

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Key Takeaways

Bodiva’s expansion aligns with Angola’s broader economic reforms aimed at diversifying its oil-dependent economy. The planned IPOs, including those of state-owned firms like Sonangol, reflect Angola’s push to modernize its financial system and draw in global investors, bolstering the bourse’s growth and regional influence.

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