The Mozambique Stock Exchange aims to attract megaprojects, mainly from the mining sector, to the national capital market. The aim is to ensure that this market grows, with market capitalisation reaching 21% of Gross Domestic Product (GDP), according to projections in the BVM Strategic Plan (2017-2021).
Yesterday in Maputo, representatives of the Mozambique Stock Exchange (BVM) and the National Mining Institute (INAM) signed a Memorandum of Understanding aimed at joint collaboration between the two institutions on projects of common interest in promoting registration and funding opportunities for companies in the mining sector on BVM.
According to a note from BVM, the two entities wish to establish, through this agreement, cooperation links with a view to strengthening the partnership in the dissemination and awareness of the listing of companies in the mining sector on the Mozambique Stock Exchange and the use of capital market products, as well as the process of registering mining companies with the Central de Valores Mobiliários (CVM), a specialised BVM service.
In addition to allowing mining companies to float on the stock exchange, this partnership will establish cooperative relations that will contribute to the development of financial education, training, capacity building and research in the fields of education, economics, financial system, capital market and stock exchange, as well as the role of BVM in financing mining companies.
“The two institutions recognise the importance of the capital market and the stock exchange for the continuous improvement of the business environment, and competitiveness of the national economy, through the provision of financial and market information and collaboration in the promotion of good management practices of Mozambican mining companies and encouragement of financial inclusion and literacy,” the communiqué said.
