The Executive Director of the Mozambique Stock Exchange (BVM), Alcino Michaque, stated on Wednesday (5th) in Maputo that strengthening compliance and risk management are strategic priorities to consolidate investor confidence and attract new companies to the capital market. His remarks were made during the 2nd Edition of the Banking Forum, held under the theme “Sustainable Innovation and Regulatory Confidence.”
According to Michaque, the transformation of the BVM from a Public Institute to a Limited Company (Sociedade Anónima) at the end of 2023 introduced new internal requirements, including the institutionalization of compliance and risk management functions, which had previously been absent from the Exchange’s operational structure.
“This transformation brought challenges, including the implementation of compliance and risk management within the organization, in line with the supervisor’s requirements and international best practices,” he said.
Defending compliance as a central tool to strengthen market credibility, Michaque emphasized that its reinforcement will be key to attracting new issuers and investors — particularly in a context where the market still shows low liquidity levels and a limited number of listed securities.
“Confidence in financial markets, and in capital markets in particular, is essential to attract new and reliable investors, as well as to instill trust among potential issuers,” he noted.
The executive acknowledged that the BVM still has work to do in terms of regulatory and supervisory instruments but assured that investments in new systems are already underway. These systems, expected to be operational next year, will help detect potential market manipulation and ensure greater transparency.
“It is true that our market is still in its early stages, but we must prepare today for the future. Our action plan focuses precisely on that — listing more companies while ensuring that they find an ecosystem fully prepared to trade confidently in our market,” he explained.
Michaque further reiterated that, beyond investor confidence, the BVM is also committed to ensuring that new issuers understand the requirements of transparency, governance, and reporting, all of which are essential for the market’s healthy operation.
“We want more companies on the Stock Exchange, but we want companies committed to the principles of good governance and integrity,” he concluded.
Source: Diário Económico
