Angola: Luanda aims to broaden foreign investor access to bond market

The Angolan government is notably in talks with JPMorgan about a possible inclusion of the country in a new index dedicated to local currency debt from frontier markets. According to Vera Daves de Sousa, authorities are simultaneously working on a framework to simplify international investors’ access to the domestic market.

Foreign investors can already purchase Angolan government securities, but transactions remain subject to local procedures, including banking and regulatory requirements. At the end of 2025, the outstanding domestic public debt stood at approximately 17,000 billion kwanzas, equivalent to 18.6 billion dollars.

This push for expansion comes as Luanda seeks to deepen its financial markets. The annual borrowing plan for 2026 foresees a total mobilization of 15,035.32 billion kwanzas on both domestic and external markets, as part of the public debt strategy 2026-2028 adopted in January.

The secondary market of Angola’s Debt and Securities Exchange, BODIVA, recently recorded 66.5 billion kwanzas in transactions over one week, averaging 13.3 billion daily. Treasury securities continue to hold a significant place in these trades.

This week, the Finance Minister is leading an Angolan delegation in London as part of the Angola–UK Investment Forum, held on 8 and 9 September with the London Stock Exchange. The program highlights economic reforms, financing, and private capital mobilization.

Vera Daves de Sousa also indicated that Angola could return to international markets in 2027 if conditions allow and is studying issuances in other currencies, including the Chinese yuan. Meetings with international investors are planned in Luanda later in September to assess demand and clarify the future local market access framework.