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Salim Valá: “We Want to Boost the Economy and Reach 30 Listed Companies by 2027”

Salim Valá: “We Want to Boost the Economy and Reach 30 Listed Companies by 2027”

After a long period of economic slowdown, marked by various phenomena, from climatic to the covid-19 pandemic and the insecurity situation in Cabo Delgado, the country is now entering a phase of recovery, and the Mozambique Stock Exchange (BVM) intends to make its contribution in the measures to stimulate the economy.

Aware of the existing challenges in the market, the Chairman of BVM, Salim Valá, said on Tuesday, March 28, in Maputo, that the institution he heads is available to assist in the recovery of the country at all levels, stressing that the interventions of the institution he heads are made with a focus on boosting and developing the business environment that consequently brings gains.

a d v e r t i s e m e n t

“BVM is aware of the challenges that await it, and is now in the process of transformation so that it is prepared for the process of boosting the stock market. The country needs a liquid stock exchange to boost the diversification of the economy, to promote the industrialization and the new era of Oil & Gas”, said Salim Valá.

Speaking during an event called “Business Cycle – BVM”, the PCA urged the business community to look at the Stock Exchange as an instrument of help, which opens space for new investors.

“This is the 3rd edition of this event with the aim of bringing partners closer together and reducing the lack of communication with others. We all want to learn, listen and answer some questions, giving our contribution to achieve improvements,” he said.

With about 25 years of existence and a total of 12 listed companies, BVM has already financed the national economy with more than 278 million meticais and its market capitalization represents 24.3% of the Gross Domestic Product (GDP).

For the year 2027, the institution aims to reach the average capitalization of the Southern African Development Community (SADC), which is 35%, and to have 30 companies listed, according to the PCA.

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“We are drawing up a strategic plan for the Exchange to cover the years 2023-2027 and thus increase the number of elements vital to its operation. We intend to have more listed companies to make the country more vibrant, and we also have new products to launch on the market and strengthen institutional capacity,” explained Salim Valá.

The source also added that BVM wants to operationalize public-private partnerships, mobilize more businessmen, expand financial literacy, and work to open the Mozambican stock exchange to the world.

Diário Económico

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