World financial crisis has so far not affected Mozambican stock exchange

16 September 2009

Maputo, Mozambique, 16 Sept – Mozambique’s stock exchange (BVM) has not been affected by the international financial crisis the chairman of the stock exchange Jussub Nurmamade has said.

“Because we are small and because we are not a global exchange we have not been affected by the crisis and I don’t think we will be. The are strong indicators that the world economy will stabilise as of 2010,” said the chairman of the BVM cited by Mozambican newspaper Notícias.

The BVM currently has 17 listed stocks, worth an estimated US$400 million.

The BVM, which has been in operation since 1999, and launched with just one stock – State Treasury Bonds – valued at US$4 million.

Some of the biggest companies in Mozambique are listing their shares and bonds on the BVM. Amongst them are Cervejas de Moçambique (CDM), Millennium BIM, Telecomunicações de Moçambique Moçambique Celular (Mcel), Empresa Moçambicana de Seguros (EMOSE) and Standard Bank. (macauhub)