Stock Market and Patricio Vilar

Patricio Vilar: Inadequate corporate-governance practices and a lack of an educated financial culture and proper negotiation systems are delaying the development of the shares market, Patricio Vilar, executive administrator of the Capital Markets Commission, said at a conference today in the capital, Luanda. Government bond trading will begin this year, corporate debt in 2015 and futures trading will follow the stock market, he said, according to Business Week. African markets from Johannesburg to Nairobi rallied this year as investors sought returns in emerging markets. Angolan equities trading was slated for 2016 after an earlier target of next year, Archer Mangueira, chairman of the CMC, said in a June 2013 interview. Officials have discussed plans for a stock market since before the 2002 end of the 27-year civil war and Angola, sub-Saharan Africas third-largest economy, wont start equities trading until at least 2017 because companies need to improve their accounting records, the countrys markets regulator said. Companies are not prepared and they have to organize their accounting, Vilar said. Some need to be privatized and to be more transparent to go public. (news.financializer.com). As reported in the news.