Financing mobilised by companies through the Mozambique Stock Exchange (BVM) reached 69 billion meticais (approximately $1 billion) by June this year, representing a 17.4% increase compared with the same period in 2024, the exchange’s board chairman Pedro Cossa announced on Thursday, 10 July.
Cossa was speaking at the 22nd edition of the Economic Briefing, organised by the Confederation of Economic Associations of Mozambique (CTA), where he highlighted the role of capital markets as an alternative to bank financing at a time when the prime rate remains at 15.5%.
“Given this context, the capital market is no longer an auxiliary alternative — it has become a structural necessity,” Cossa said, calling on domestic companies to make greater use of the exchange.
According to the chairman, cumulative financing channelled through the BVM since its establishment has reached 413 billion meticais, while market capitalisation stood at 217 billion meticais in June, up 8.4% from the same period in 2024.
Market capitalisation now represents 19.69% of gross domestic product (GDP), compared with 18.15% a year ago — a signal, according to Cossa, of the growing weight of capital markets in the national economy.
The market’s increased activity is also reflected in trading volumes. In the first half of the year, corporate bond trading grew by 175%, while equity trading surged 257%. On the equities market, the value of transactions rose from 28.3 million meticais to 108.2 million meticais.
Cossa also highlighted gains among listed companies, pointing to Cervejas de Moçambique (CDM), which rose 48.3%, followed by Tropigália at 8%, Hidroeléctrica de Cahora Bassa (HCB) at 6.9%, Companhia Moçambicana de Hidrocarbonetos (CMH) at 6.6%, and HemoS at 0.9%.
For the BVM chairman, these indicators demonstrate that domestic savings capacity exists to finance national companies. “What is often lacking is not investment demand — it is the supply of quality assets, the supply of your companies,” he said.
The BVM is accordingly seeking to expand the number of companies accessing the capital market. Between March and May 2026, 12 new share-issuing companies were registered with the Securities Central Depository, a figure that, according to Cossa, represents more than 10% of all companies registered since the depository’s creation in 2014.
Cossa also revealed that the BVM is working with the Ministry of Finance on the implementation of legal obligations relating to registration and capital dispersal. A review conducted earlier this year found that compliance with those obligations was “practically nil,” he said.
The BVM chairman urged companies to view a stock exchange listing as a growth opportunity rather than merely a legal imposition.
“The exchange is not a space reserved for large companies alone. It is a government economic policy instrument at the service of the entire national business community,” he concluded.
Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/2026/09/10/negocios/empresas/economic-briefing-cta-financiamento-as-empresas-via-bvm-para-mil-m-no-primeiro-semestre/
