Angola, Africa’s second-largest oil producer, pushed back the start of its secondary market for bonds to the first quarter of next year. “This is an estimation,” Archer Mangueira, the chairman of the country’s Capital Markets Commission, said in an interview today at the London Stock Exchange.
“We might make some adjustments based on whether the legal instruments are fully developed and implemented, technological infrastructure is in place, and employees are trained.”
The publicly traded market for the Angolan notes had been planned to start by the end of September, Mangueira said last month. The market, which will use electronic trading, will add to Treasury bills already bought and sold among financial institutions and help develop a so-called yield curve, he said at the time.
Source: Bloomberg
