The stock exchanges of Mozambique, Angola, and Cape Verde renewed their cooperation on Wednesday (25) through a memorandum of understanding that defines five strategic areas for joint action, with the aim of strengthening the integration of capital markets.
The announcement was made in Maputo by Pedro Cossa, Chairman of the Board of Directors of the Mozambique Stock Exchange (BVM), who highlighted the importance of the new agreement for cooperation among the three institutions. “We have renewed the memorandum of understanding between our three stock exchanges,” he stated.
According to Pedro Cossa, the agreement covers areas fundamental to the joint development of the markets. “This new instrument incorporates five strategic areas of joint action, namely the functional integration of the exchanges’ technological systems, based on the ‘cross membership’ model, which allows for shared access by operators across markets,” he explained.
He added that the memorandum also includes measures to boost the exchanges involved. Among these, he highlighted “the creation of a working group, as well as the development of new markets, products, and financial instruments among the three countries.”
For her part, Cristina Lourenço, chair of the Executive Committee of the Angolan Debt and Securities Exchange (Bodiva), said the agreement represents an important step toward the growth of financial markets in the three countries.
“This agreement reflects a commitment to the evolution of the markets, with the creation of new products, services, and financial instruments available to the economies of the three countries,” stated Cristina Lourenço.
She also emphasized that the partnership goes beyond product innovation, encompassing structural aspects as well. As she noted, it includes “strengthening and updating our regulatory framework, as well as actively promoting financial education and literacy.”
Júlia da Cruz, CEO of the Cape Verde Stock Exchange, highlighted the results already achieved through this cooperation. For her, the new instrument consolidates a partnership based “on mutual trust, knowledge sharing, and a common ambition to develop a more efficient capital market.”
On the occasion, Mozambique’s Minister of Finance, Carla Louveira, reiterated the government’s support for the initiative, considering it strategic. The minister noted that the BVM has surpassed 200 billion meticais (2.7 billion euros) in market capitalization, representing approximately 25% to 26% of Gross Domestic Product, describing the agreement as an “unequivocal sign” of growing regional maturity.
Source: Lusa
