The Mozambican Stock Exchange (BVM) announced that in 2024 net results stood at around 252 million meticais ($3.9 million), a 26% drop compared to the 343 million meticais ($5.3 million) recorded in 2023.
According to the institution’s report released by Lusa, during the period under review, service sales grew by 31% to 632 million meticais ($9.8 million). The document recalled that in the last quarter of last year, BVM’s market capitalization rose 5% compared to the previous quarter, reaching a new record of 212.4 billion meticais ($3.2 billion), adding that this value “at the end of 2024 was equivalent to almost 30% of the country’s Gross Domestic Product (GDP).” Recently, the Mozambican Stock Exchange revealed that it intends to increase the number of listed companies to 17 later this year, moving forward with a strategic plan aiming to reach at least 30 by 2028. “We expect new companies and I believe we will have them. Soon, you will be invited to learn about another institution that will enter the stock exchange,” said BVM’s Chairman, Pedro Cossa.
Cossa stressed that BVM is developing a technological infrastructure to ensure new trading systems for buying and selling securities and to provide more financing mechanisms for projects. “Mozambicans must have easier access to the stock market. We must demystify the idea that this market is for the elite. We have to break this perception of the stock market by making stock exchange platforms available on citizens’ mobile phones,” declared the BVM president.
“A new trading system, a new system for securities settlement, and it will be properly connected not only with BVM operators but also with other regional stock exchanges through their interconnectivity, which is a project of the Southern African Development Community region and the African Union that we want to be part of,” he added.
Pedro Cossa also stressed that this new trading system being designed is part of BVM’s 2024–28 strategic plan, which is based on five pillars, including boosting the equity and bond markets, technological modernization, and the development and commercialization of new products, services, and financial instruments.
Source: Diário Económico
