
MAPUTO – The capitalisation of the Mozambique Stock Exchange (BVM) rose in the third quarter of 2024, reaching 202.303 billion meticais (approximately $3.015 billion), marking 28.12% of the country’s Gross Domestic Product (GDP).
According to data shared with Lusa on Monday by BVM’s president, Salim Valá, the exchange recorded a turnover of 23.99 billion meticais (around $357.5 million) during the period, resulting in a liquidity index of 11.86%. Additionally, total financing to the economy stood at 344.468 billion meticais (approximately $5.13 million).
By the end of Q3 2024, the stock exchange listed 91 securities, including 16 shares, 27 corporate debts, and the rest as Treasury Bonds. A total of 311 securities were registered with the Central Securities Depository (CVM), with 26,305 holders.
Valá noted that the performance indicators for the third quarter of 2024 were positive compared to the same period in 2023. The growth rates were impressive across various sectors, including a 35% increase in corporate debt issues, a 24.1% rise in turnover, a 23.1% increase in listed shares, a 21% growth in securities registered with the CVM, a 19.7% rise in listed securities, and a 13.4% increase in financing to the economy.
In addition, market capitalisation grew by 13.3%, while the liquidity index rose by 9.5%.
A total of 66 corporate events took place on the BVM during the third quarter, comprising 58 interest payments, seven capital amortisations/repayments, one dividend payment, and the registration of 10 new securities and 231 new investors.
Salim Valá also pointed out that, by the end of the quarter, one corporate debt issue had raised 365.95 million meticais ($5.5 million) at an interest rate of 22.5%, less than the three issues made in the previous quarter, which totalled 1.315 billion meticais ($19.6 million).
Regarding commercial paper, the BVM registered two issues amounting to 882.7 million meticais ($13.1 million) at a weighted average interest rate of 14.0%, compared to five issues in the previous quarter, totalling 1.277 billion meticais ($19 million) at an average rate of 14.6%.
Valá explained, “The number of issues and the amount were lower than the previous quarter, but the interest rate was more favourable this quarter.”
Among the most traded companies, HCB – Hidroeléctrica de Cahora Bassa, SA led with 39.5% of the share market, followed by CMH – Companhia Moçambicana de Hidrocarbonetos, SA, and CDM – Cervejas de Moçambique, SA, each with 27.9%.
The robust performance of the Mozambique Stock Exchange reflects growing investor confidence and highlights the country’s economic resilience as it continues to expand its capital markets.
Source: Lusa