‘Angola bourse will not open this year’
Angola’s
much-delayed stock market will not open this year as many of the
country’s companies do not meet the requirements needed to participate
on a bourse, the government said.
The announcement
from state news agency, Angop, monitored by Reuters in Portugal, is the
latest set-back for investors looking to tap into one of Africa’s
fastest-growing but most impenetrable economies.
A Luanda bourse has been in the pipeline for more than eight years.
“It is clear that
the commercial, business and legal situation does not allow us to say
that in 2011 we can have a stock market already,” Angop quoted minister
of state, Carlos Feijo, as saying.
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