Angola: Unitel – Small Investors, Big Losses and the Risk of Capture

[Maka] By September 24, Unitel shares were trading at 28,000 kwanzas on Angola’s stock exchange, down 30 per cent from the July offering price of 40,040 kwanzas. In less than two months, roughly 300 kwanzas had disappeared from the market value of every 1,000 invested. For a country seeking to persuade its citizens to become shareholders, this is a sobering introduction to the stock market. The 15 per cent stake sold for 300.3bn kwanzas now had a market value of 210bn kwanzas.