The stocks listed on the Mozambican Stock Exchange rose from 25 in 2011 to 32 in 2012, which was a positive performance despite the difficulties inherent to any developing country, said Mozambique’s Finance Minister.
At the opening session of the 44th meeting of the Committee of Stock exchanges of the Southern African Development Community (CoSSE), held Thursday in Maputo, Manuel Chang noted that the value of transactions had risen 355 percent to 1.795 billion meticals (around US$60 million).
Market capitalisation in the period rose 65 percent, the minister said, who compared that growth with that of the average for SADC stock exchanges, which was 14 percent.
In Mozambique, Chang said, the Stock Exchange was a source of funding for the State Budget and for public and private companies. Since the bourse was launched 54 stocks have been listed, worth a total of 24.5 billion meticals (around US$816 million), he said.
The source also said that the Mozambican state had played an active role in the capital market, mainly by issuing public debt and selling off stakes, and absorbed around 55 percent of overall funding obtained through the stock exchange.
The two-day meeting will present and discuss the performance reports of the working groups set up as part of the sub-commissions set out in the strategic plan of the SADC Stock Exchange Committee, as well as a review of the Constitution in terms of admitting new members. (macauhub)