The President of the Mozambique Stock Exchange (BVM), Salim Valá, announced yesterday that the institution he runs has financed the economy to the tune of just over 4 billion dollars (278 billion meticais) over the two and a half decades of its existence.

Salim Valá, who was speaking yesterday morning in Maputo during the opening of a "Business Cycle - BVM", also said that market capitalization currently represents around 24.3% of GDP.

Despite the progress that has been made in recent years, Valá acknowledged that the stock exchange is still small, with low liquidity and depth.

"Our focus continues to be on boosting the secondary market, which is the traditional role of the stock exchange," said the head of BVM.

In front of an audience of capital market players, Valá said that the stock exchange wanted to grow from the current 12 companies to 30 listed companies by the end of 2027. And it doesn't stop there. In terms of market capitalization, the source wants it to rise from 14, 3% to 35% of GDP.

In order to achieve these goals, BVM relies on the collaboration of a number of institutions, "some of which are represented here", he said.

Looking at some of the stock market indicators, the source revealed that overall there has been signable growth.

For example, corporate debt issuance increased by 55.6% this year. As for financing the economy, this increased by 23.2%. However, the public sector saw an increase of 28.41 BTP3T, while private sector financing only saw an increase of 7.41 BTP3T.