The market capitalisation of the Mozambique Stock Exchange (BVM) grew by 11% in the first half of 2024, reaching the equivalent of 28.6% of the country’s Gross Domestic Product (GDP), according to the institution’s latest figures.
According to Lusa, BVM president Salim Valá pointed out that market capitalisation, which reflects the market value of listed companies and securities, reached 203.8 million meticals in the first six months of the year. In addition, turnover on the stock exchange registered a remarkable growth of 102.2 percent, totalling 16.6 million meticals.
Although the number of listed shares remained at 16 companies, there was a 20 per cent increase in corporate debt issues, from 25 to 30.
The total number of listed securities rose from 84 to 92 (+9.5 per cent), while total financing to the economy rose by 8.6 per cent to 338.6 million meticals. In terms of participation, the number of securities registered with the Central Securities Depository rose from 274 to 301 (+9.9 per cent) and the number of holders rose from 25.4 to 26,074 (+2.4 per cent).
“The total number of listed securities rose from 84 to 92 (+9.5 per cent), while total financing to the economy rose by 8.6 per cent to 338.6 million meticals.In terms of participation, the number of securities registered with the Central Securities Depository rose from 274 to 301 (+9.9 per cent) and the number of holders rose from 25.4 to 26,074 (+2.4 per cent).”
With regard to the composition of transactions, Salim Valá pointed out that in the first half of the year, stock market trading was predominantly dominated by Treasury Bonds, followed by Corporate Bonds, Commercial Paper and shares. The debt market alone moved 16.6 million meticals in this period.
Salim Valá also emphasised that the first six months of 2024 revealed important signs about the evolution of the Mozambican stock market, particularly in terms of the size of the market, the volume of transactions and the role of the capital market as a financing tool for the private sector.
Compared to the same period last year, all of BVM’s indicators showed a positive evolution, with emphasis on the 130.8 per cent growth in listed bond issues, the 39.4 per cent increase in the number of listed securities and a 23.1 per cent increase in the number of listed companies. In addition, the number of securities registered with the Central Securities Depository grew by 20.4 per cent, while turnover rose by 19.8 per cent.
