Africa-Press – Mozambique. The Mozambique Stock Exchange (BVM) posted profits of nearly 252 million meticais (€3.3 million) in 2024, with service sales growing 31%, according to the institution’s financial statements.
According to the results presented by the BVM, this still represents a 26% decline in net income, taking into account the 343 million meticais (€4.5 million) in profits in 2023.
In 2024, BVM’s sales of services grew to 632 million meticais (€8.4 million), the report with the institution’s accounts adds.
BVM’s capitalization grew 5% in the last quarter of 2024, compared to the previous one, to a new record of 212.410 million meticais (€2.827 million).
According to BVM data, capitalization – an approximation of the market value of companies and securities – was equivalent to practically 30% of the country’s gross domestic product (GDP) at the end of 2024.
The BVM aims to nearly double the number of listed companies from the current 16 to 30 and achieve a market capitalization equivalent to 35% of Mozambican GDP by 2028, to boost the real economy, as outlined in its new strategic plan for the period 2024-2028.
This year, the BVM plans to increase the number of listed companies to 17, said Pedro Cossa, chairman of the board of directors, last Thursday in Maputo: “New companies are expected, and I believe we will have them. You will soon be invited to learn about another new company that will be listed on the stock exchange.”
Pedro Cossa was speaking on the sidelines of the launch in Maputo of a new visual identity for the BVM, where he assured that the institution is developing a technological infrastructure to guarantee new trading systems for the purchase and sale of securities and enable more project financing mechanisms.
“Mozambicans must have easier access to the stock market. We must demystify the idea that the stock market is for the elite. We must demystify this perception of the stock market by making stock market platforms available on Mozambicans’ mobile phones,” said the BVM president.
“A new trading system, a new system to centralize the value of securities, and this system will be properly connected not only with stock market operators in Mozambique, but also with other stock exchanges in the region through the interconnectivity of stock exchanges, which is a project of the Southern African Development Community (SADC) and the African Union that we want to be a part of,” he added.
This new trading system, currently being designed, is part of the BVM’s 2024-2028 strategic plan, which is based on five pillars, including the dynamisation of the stock and bond markets, technological modernization and development, and the commercialization of new products, services, and financial instruments.
The goal is to ensure “the attraction of companies” of “various sizes and sectors of activity, that are well-managed, profitable, and ethically oriented”, as well as “domestic and foreign investors”, and to promote the registration of securities and holders with the CVM.
The new plan also provides for the adoption of “innovative market development mechanisms” to “provide greater trading volume and liquidity through the introduction of new products, services, and financial instruments”.
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