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Angola: Stock Market Generated €3.4M Net Profit in 2023

Angola: Stock Market Generated €3.4M Net Profit in 2023

Angola’s Debt and Securities Exchange (Bodiva) made a net profit of three billion kwanzas (€3.4 million) in 2023, an increase of 798% compared to the previous year, its management company announced on Tuesday.

The growth compared to 2022 “highlights the positive performance trend of recent years in terms of the company’s finances and the market,” said a statement from the regulated markets management company, announcing the results and summarising the Report and Accounts for the 2023 financial year approved on Monday at the general meeting.

Turnover in the year under review totalled 7.1 billion kwanzas (€7.8 million), derived essentially from the increase in the volume traded on the secondary market (seven billion kwanzas (€7.7 billion), with emphasis on Repo operations (asset repurchase agreements), as well as maintenance fees for trading and custody of private issuers.

Operating costs for the year in question totalled 3.4 billion kwanzas (€3.7 million), with emphasis on staff costs and the supply of goods and services, especially to support the technological infrastructure.

The report also indicates an increase in net assets of 10 billion kwanzas (€11 million), 68% more than at December 2022, as well as equity totalling 7.6 billion kwanzas (around €8.4 million).

These results translate into “a return on assets (ROA) of 31%, a return on equity (ROE) of 40% and a gearing of 78%,” the document stated.

The General Meeting decided to distribute 35% of the year’s results as dividends to shareholders, the company also announced.



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