BODIVA’s electronic trading system SETIC operates on a standard weekday schedule aligned with Luanda business hours (WAT, UTC+1), with no trading on Angolan public holidays. Understanding the market calendar is essential for order timing, settlement planning, and corporate action processing across the exchange’s five listed equities and its active fixed-income market.
Trading Sessions
BODIVA’s equity trading day is structured into distinct phases. All times are in West Africa Time (WAT / UTC+1), which is the same timezone as Luanda.
| Session | Time (WAT) | Description |
|---|---|---|
| Pre-Open | 08:30 - 09:00 | Order entry and modification; no matching |
| Continuous Trading | 09:00 - 14:00 | Order matching via SETIC; live execution |
| Closing Auction | 14:00 - 14:15 | Closing price determination |
| Post-Close | 14:15 - 14:30 | Trade reporting and confirmations |
Note: BODIVA may adjust trading hours for special sessions or market events. Check BODIVA’s official announcements for any temporary schedule changes.
Settlement Cycle
Equity trades settle on a T+3 basis, meaning the buyer receives shares and the seller receives payment three business days after the trade date. Settlement is conducted through CEVAMA (Central de Valores Mobiliarios de Angola), BODIVA’s central securities depository. Cash settlement interfaces with the BNA’s Real-Time Gross Settlement (RTGS) system.
| Instrument | Settlement Cycle | Depository |
|---|---|---|
| Equities | T+3 | CEVAMA |
| Treasury Bills (BTs) | T+0 to T+2 | SIGMA (BNA system) |
| Treasury Bonds (OTs) | T+2 | SIGMA / CEVAMA |
| Corporate Bonds | T+3 | CEVAMA |
2026 Angolan Public Holidays (Feriados Nacionais)
BODIVA does not operate on the following dates. If a holiday falls on a weekend, the exchange typically observes the following Monday.
| Date | Holiday | Portuguese Name |
|---|---|---|
| January 1 | New Year’s Day | Dia de Ano Novo |
| February 4 | Armed Struggle Day | Inicio da Luta Armada |
| February 17 | Carnival | Carnaval |
| March 8 | International Women’s Day | Dia Internacional da Mulher |
| March 23 | Southern Africa Liberation Day | Dia da Libertacao da Africa Austral |
| April 3 | Good Friday | Sexta-Feira Santa |
| April 4 | Peace & National Reconciliation Day | Dia da Paz e Reconciliacao Nacional |
| May 1 | Workers’ Day | Dia do Trabalhador |
| September 17 | National Heroes’ Day | Dia do Heroi Nacional |
| November 2 | All Souls’ Day | Dia dos Finados |
| November 11 | Independence Day | Dia da Independencia Nacional |
| December 25 | Christmas Day | Dia de Natal |
Source: Angolan government gazette. Holiday calendar is published annually; dates may shift if the government declares additional observances.
Key Corporate Calendar Dates
| Period | Event | Notes |
|---|---|---|
| March - April | FY annual report filings | Listed issuers publish audited FY results |
| April - June | Annual General Meetings | Shareholders approve accounts and dividends |
| June - July | Dividend payment windows | Ex-dividend and payment dates announced per issuer |
| September - October | Semi-annual interim reports | H1 results published by listed issuers |
| Ongoing | CMC factos relevantes | Material facts disclosed as they arise |
Time Zone Considerations for Foreign Investors
Luanda operates on WAT (UTC+1), which is the same as Central European Time (CET) in winter. For investors in major financial centers:
| City | Offset from Luanda |
|---|---|
| London (GMT) | -1 hour |
| New York (EST) | -6 hours |
| Dubai (GST) | +3 hours |
| Johannesburg (SAST) | +1 hour |
| Lisbon (WET) | -1 hour |
Foreign investors access BODIVA through licensed brokers and must hold a CEVAMA custody account. For account setup, see How to Open a BODIVA Custody Account. For transaction costs, see Trading Fees & Commissions.