Financial Markets of Angola: A Comprehensive Overview
When it comes to the financial markets of Angola, there’s a lot to cover. Angola is a country in southern Africa that’s made strides in recent years, not only in terms of its economy as a whole, but also in terms of its financial markets. In this post, we’ll take a closer look at the financial markets of Angola, covering everything from the main players to the latest trends.
Overview of Angola’s Financial Markets
Angola has made significant progress in nurturing its financial sector over the past decade. Before the country’s descent into a civil war that lasted for 27 years, Angola had a reliable and flourishing banking sector. Since the end of the war, international investors have injected capital into the country. As a result, the banking sector has enjoyed growth.
The country’s financial sector includes commercial banks, savings and credit cooperatives, insurance companies, and microfinance institutions. The Angolan stock exchange, or Bolsa de Valores e Derivativos de Angola (BODIVA), was established in 2015 and is the only securities exchange in the country.
When it comes to the main players in the financial markets of Angola, there are a few key organizations to look out for.
- Banco Angolano de Investimentos (BAI) – BAI is the largest bank in Angola in terms of assets and has over 150 branches throughout the country.
- Banco de Fomento Angola (BFA) – BFA is the second-largest bank in Angola in terms of assets and is a joint venture between the Angolan government and BPI (Portugal).
- Banco Angolano de Negócios e Comércio (BANC) – BANC is the third-largest bank in Angola and has over 70 branches throughout the country.
- Bolsa de Valores e Derivativos de Angola (BODIVA) – As mentioned earlier, BODIVA is the only securities exchange in Angola.
Latest Trends in Angola’s Financial Markets
Now that we’ve covered the main players in Angola’s financial markets, it’s time to take a closer look at the latest trends. One trend that has emerged in recent years is the growth of digital banking in Angola.
According to a report by Apix Analytics, the number of mobile money accounts in Angola grew by 40% in the first half of 2020. This growth has been driven in part by the COVID-19 pandemic and the need for contactless payments.
Another trend in Angola’s financial markets is the push for greater financial inclusion. According to the same report by Apix Analytics, only around 30% of adults in Angola have a financial account. The government has taken steps to address this issue, including launching a national financial inclusion strategy in 2018.
Finally, another trend to keep an eye on in Angola’s financial markets is the growing interest from international investors. According to a report by Bloomberg, foreign investors are flocking to Angola as the country looks beyond its oil exports and focuses on diversifying its economy.
The financial markets of Angola are rapidly evolving, with new players and trends emerging all the time. While the country still has a long way to go in terms of financial inclusion, there’s no denying that progress is being made. Whether it’s the growth of digital banking or the influx of foreign investors, it’s clear that Angola’s financial markets are poised for continued growth.