The Angolan Debt and Securities Exchange (Bodiva) is studying the creation of a commodities market to trade agricultural products and help finance this sector, an official from the entity announced.
According to Nivaldo Matias, director of Bodiva’s market development department, who was speaking to journalists on Wednesday, Bodiva wants to be a strategic partner in the Angolan financial system and be at the service of the economy.
It is therefore evaluating new markets that could help solve some problems, particularly exchange rate risks.
As early as 2024, it intends to launch a foreign exchange market that is being prepared with other players such as the National Bank of Angola (BNA) and commercial banking “to mitigate foreign exchange risk” and give more “peace of mind to Angolan taxpayers and foreign investors” by introducing instruments that can protect their interests.
In the same vein, Bodiva is studying the creation of a commodities market “to trade agricultural products produced in our country in our financial market,” he said.
Nivaldo Martins believes that this is an essential market for Angola and that it can achieve large trading volumes.
Those in charge of Bodiva are gathering experience from other countries where exchanges of this kind already exist, such as Ethiopia, and have already set up a working group to prepare the project.
Raul Dinis, director of the Trading department, told Lusa that among the products that could be included in an initial phase are salt, wheat and corn, the price of which will be defined by market supply and demand.
In 2024, the studies, survey and preparation of the project should take place, which will ideally be launched in 2025, he said.