Since its creation in 2019, the new capital bazaar has welcomed REVIMO SA, 2Business SA and PayTech SA, according to BVM’s Chairman of the Board of Directors (PCA), Salim Valá.
According to the source, this third market within BVM was created to meet the challenges of Small and Medium Enterprises (SME) in Mozambique to invest in the capital market, thus, the minimum amounts for admission were reduced from 7 to 4 million meticais.
However, during the experimental phase of the introduction of parallel markets for investment in the capital market, through the admission of ZERO Investimentos, SA, a real estate company to the Second Market, it was found that the obstacles to the listing of SMEs include the lack of organized accounting and auditing, as well as the lack of dispersion of the shareholder structure.
There are currently 11 companies listed on BVM, of which 7 belong to the Official Listed Market dominated by state-owned companies and large private sector companies, one company listed on the Second Market aimed at Small and Medium Sized Enterprises, and finally three companies listed on the Third Market for incubation, preparation and transition.
In addition to BVM, the Confederation of Economic Associations (CTA), the Institute for the Management of State Holdings (IGEPE), the Institute for the Promotion of Small and Medium Enterprises (IPEME), the Accountants and Auditors Order of Mozambique (OCAM), and the Higher Institute of Accounting and Auditing of Mozambique (ISCAM) are part of the process of monitoring the companies of the third market.
TRADING VOLUME ON THE STOCK EXCHANGE INCREASES
By the end of the first half of this year, the trading volume on the capital market had reached 6,543.49 million meticais against 2,696.0 million registered in the same period last year.
This figure was dominated by the public debt market, trading 6.448,82 million meticais corresponding to 98,6% of the total stock market trading.
The stock market was dominated by the trading of class B shares of Companhia Moçambicana de Hidrocarbonetos (CMH) which traded 55.73 million Meticais representing 90.5% of the trading volume of this market whose total was 61.58 million.
With regard to the number of securities, there are currently 54 securities listed on the BVM, of which 11 are shares and 9 are corporate debt, and the remaining securities are treasury bonds.
Financing to the economy through the BVM in the period under review was 235,979 million meticais, of which 190,650 million went to the public sector and 45,329 million to the private sector. The number of securities and holders registered with the Central de Valores Mobiliários was 218 securities and 23.743 holders respectively.
