The director of the Markets Area of Absa Bank Mozambique, Patricia Darsam, recently defended in Maputo, the increase in the number of companies listed on the Stock Exchange to boost, in a more efficient way, the growth and development of the capital market in the country.
According to her, the advances registered in the Mozambican financial market, with the evolution of local investment and market size, indicators evaluated in the IV Annual Report of the
Africa’s Financial Markets published in 2020, suggest that greater stock market capitalization can help Mozambique diversify its products and improve its position in the African index.
“In this desideratum, macroeconomic stability, foreign currency adherence and per capita income, are other factors that may prove to be determinants and therefore should not be ignored,” he said.
According to the source, African economies are beginning to be more concerned about ensuring the improvement and evolution of their financial markets, because they understand that this is a path to sustainable economic development.
“In this way we can see the growing participation of African economies in the study and we also see the leadership in some pillars of the study being occupied by economies other than South Africa, something that did not happen in the first editions of the study,” he stressed.
Patrícia Darsam also affirmed that the continuous bet for a greater market transparency, the applicability of international standards and the access to foreign currency are some of the factors that at the Continent level will contribute for an improvement of the financial markets.
“In the specific case of Mozambique, the focus on empowering local investors, through education and financial inclusion, and the increase and diversification of stock market capitalization, are additional factors that will contribute to the growing improvement of our country in the ranking of this study,” he stressed.
According to the data from the 4th Annual Report on Africa’s Financial Markets, presented by Absa Bank Mozambique, in December 2020, there is a trend of consolidation of African financial markets, with countries starting to look at this area of the financial system, as a factor that can boost the development of their economies.
