The chairman of the board of directors of the Mozambican Stock Exchange (BVM), Salim Valá, said this Wednesday, 14 August, that the institution he runs recorded a positive evolution in the first half of 2024 compared to the second half of 2023, with emphasis on Turnover, which grew by 102.2%, the Liquidity Index, which grew by 98.8%, and the number of Corporate Debt Issues, which is at 20%.
Speaking at the 15th edition of CTA’s Economic Briefing, he said that ‘there was a positive year-on-year evolution in the first half of 2023/2024 in all indicators, with special emphasis on Corporate Debt Issues (130.8 per cent), Number of Listed Securities (39.4 per cent) and Turnover (19.8 per cent)’.
Salim Valá added that the first half of 2024 saw a good performance in Commercial Paper, with six issues totalling 1.7 billion meticals, accompanied by a weighted average rate of 14.5% (it was 17.3% in December 2023). ‘Treasury Bonds in the same period were issued at an average interest rate of 17.7 per cent, a significant reduction from 18.6 per cent in 2023. In the same period of 2024, Corporate Bond issues continue at a higher rate (20.6 per cent) than Treasury Bonds (17.7 per cent).’
BVM recorded a positive evolution in the first half of 2024 compared to the second half of 2023, with emphasis on Turnover, which grew by 102.2 per cent, the Liquidity Ratio, which grew by 98.8 per cent, and the number of Corporate Debt Issues, which is at 20 per cent.
BVM
The head of BVM pointed out that the company Cervejas de Moçambique (CDM) had the highest trading volume in the first half of 2024 with 9.47 million meticals (58.6 per cent market share), followed by Companhia Moçambicana de Hidrocarbonetos (CMH), Hidroeléctrica de Cahora Bassa (HCB) and Tropigália.
‘CMH was the company with the highest share price appreciation, with a 59 per cent rise in the average price of its shares (3618 meticals per share) during the first half of 2024, reaching a price of 4600 meticals (102.0 per cent appreciation),’ he added.
At the end of his speech, Salim Valá advised all companies to join the Stock Exchange. ‘Companies from all sectors of activity, of various sizes and for different financing needs can use the BVM,’ he said.
Nário Sixpene
