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Stock Market Capitalisation Up 4% to $2.9B in Q1

Stock Market Capitalisation Up 4% to $2.9B in Q1

Market capitalisation, the main indicator of the Mozambican securities market, grew 4% in the first quarter of this year, standing at 2.9 billion dollars, equivalent to 191.4 billion meticals.

Data released on Wednesday (12) recalls that at the end of December 2022, the market capitalisation stood at 164.2 billion meticals (2.5 billion dollars), having risen by 12% in 2023 to 183.9 billion meticals (2.8 billion dollars).

“In March, the figures rose by another 4 per cent to 191.4 billion meticals, corresponding to 26.88 per cent of the Gross Domestic Product (GDP),” explains the document drawn up by the Mozambique Stock Exchange (BVM).

According to the organisation, the national stock exchange closed the first quarter with a turnover of more than 8.6 billion meticals (133 million dollars) and 86 listed securities.

“Companies such as Companhia Moçambicana de Hidrocarbonetos, Cervejas de Moçambique, Hidroeléctrica de Cahora Bassa, Arko Seguros and Rede Viária de Moçambique, among others, are listed on BVM,” it said.

In January, BVM’s chairmans, Salim Valá, announced that market capitalisation had grown by almost 200% since 2016, pointing to the need to diversify operations beyond Treasury Bonds.

“Since BVM started operating in 1999, market capitalisation has grown positively, with a notable increase since 2016, which has seen an increase of almost 200% by the end of 2023,” he said.

At the time, he said that the evolution of market capitalisation resulted from the appreciation of the stock market and bond markets, such as Treasury Bonds, Corporate Bonds and Commercial Paper, and depended on new issues, exclusions or price appreciation.

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“Despite adverse economic factors, this evolution has been positive over the years, demonstrating the resilience of the capital market,” he concluded.


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