Angola to test its stock market with BAI bank

By Estelle Maussion
Posted on Monday, 2 May 2022 09:53

BAI's institutional headquarters in Luanda © BAI

Listing part of BAI bank’s capital on the stock market is expected to prove that Angola’s economy can reform itself.

This is what is called a life-size test. Angola’s largest bank, BAI (Banco Angolano de Investimento), announced on 21 April that it would be launching the procedure to list part of its capital on the stock exchange.

This operation, the first one to take place in the country since the financial centre was inaugurated in 2014, is expected to mark a turning point in the economy’s modernisation efforts as well as demonstrate the success of the reforms undertaken by President João Lourenço. José Eduardo dos Santos’ successor, who is running for a second term in August, has prioritised developing the private sector and improving governance.

Symbolic operation