The president of the Mozambique Stock Exchange (BVM) today pointed to the transformation of the entity into a “business centre” as the main challenge, on the eve of the celebration of the institution’s 25th anniversary.
“The challenge now is to make the stock exchange a viable business centre,” Salim Valá told the media on the sidelines of an international conference on cyber security taking place in Maputo.
In total, according to official data, there are at least 13 listed companies in Mozambique and a market capitalisation of 26% of GDP.
“We are not satisfied, the road is still very long,” noted Salim Valá, pointing out, by way of example, the fact that only five of the country’s 100 largest companies are listed on the stock exchange.
The awareness of the business community and the population about the importance of a stock exchange are pointed out by the president of BVM as fundamental in the entity’s goals.
“In Mozambique, people buy shares and keep them waiting for dividends. But in other countries, people buy and watch the market to sell the shares at a good time. They buy again to do the same process. So there is a need here to change people’s view. This also has to do with literacy”, explained Mr Valá.
The president of BVM also highlighted the need for reflection on the possibility of the entity moving from a public institute, as it is today, to a public limited company.
The Mozambique Stock Exchange was established in October 1998.
Lusa
