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BVM Takes Steep Steps Towards Becoming a Public Limited Company

BVM Takes Steep Steps Towards Becoming a Public Limited Company

The Chairman of the Mozambique Stock Exchange, Salim Valá, said on Thursday, 27 October, in Maputo, during the International Conference on Capital Market and Stock Exchange, that the organisation he chairs is on the way to becoming a public limited company.

“This idea has been in the back of our minds for a long time and I can guarantee that we are already well advanced in turning the Exchange into an S.A. (Public Limited Company). The Government, or the State, which owns the Exchange, is aware of this and has been reflecting on the matter. I’m sure that by the next conference we will have our stock exchange as an S.A.,” said Salim Valá, responding to a question put to him.

At the same session, the chairman of the BVM noted that “efforts are being made to integrate the informal sector into the capital market, because it is from there that small, medium and large companies emerge,” he said, adding that “this is the sector that contributes most to the national gross domestic product.

In relation to the possibility of forcing companies to be listed on the stock exchange, Valá explained that “our legislation does not require that, but there are financial markets where certain types of companies – including the most sensitive ones related to the exploration of natural resources, those most closely linked to the energy sector – are required to be listed on the stock exchange.

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