defends Salim Valá, Chairman of the Board of the Mozambique Stock Exchange
In 1999, when the Mozambique Stock Exchange (BVM) began operating, there was no economic viability in the country for an entity dedicated exclusively to stock brokerage, says the chairman of the institution’s board of directors.
Earlier this year, economists argued that commercial banks and the stock market are in practice competitors, so the former should not be intermediaries of the latter. They also suggest privatising BVM in a similar way to other parts of the world, including southern Africa.
