Maputo, 15 Oct (AIM) – Mozambican President Daniel Chapo believes that greater democratization of the capital market is crucial for expansion of citizens’ access to business ownership and wealth generation within the country.
Speaking on Wednesday, in Maputo, at the ceremony marking the 28th anniversary of the Mozambique Stock Exchange (BVM), compliance with legislation is crucial to attract more investors.
The event also marked the listing of MECTS, S.A. (Mozambique Electronic Cargo Tracking Services, S.A.) as the first company governed by the legal framework for Public-Private Partnerships (PPPs).
According to Chapo, opening the stock market to a broader range of Mozambican investors is essential for transforming citizens into direct participants in the ownership of productive assets, moving beyond their traditional roles as mere workers and consumers.
The President also believes that the listing of MECTS should signal the beginning of a new phase in implementing legal mechanisms for national participation as 15 years have passed since the legal framework was approved.
“MECTS is the only company under this regime to have been listed. We want the admission of MECTS to the Mozambique Stock Exchange to represent a turning point, a true inflection point”, he said.
While this company is the first to enter the national stock market, he said, it should certainly not be the only one, nor the last.
(AIM)
PC/Am/