Avaliação do desempenho e impacto do mercado de valores mobiliários em Moçambique

Abstract

During the period under review, in the primary securities market, seventeen bond issues occurred, of which six were public debt and eleven private debt, which meant the issuance of savings by the issuers in the amount of MZM 1,986.8 million of tales (mdc) throughout the period. In the secondary market, of the seventeen issues that occurred in the primary market, fifteen were admitted to listing on the BVM and two were not subject to a request for admission to listing, and are namely “Treasury Bonds-2002, 1st and 3rd series.” By the end of the last year of the period under review, the number of listed bond issues had been reduced to nine and the reasons for such a reduction are as follows: In 2001, the four series of “BIM / 2000” bonds became fungible and became a single security; In 2001, the two series of “BSTM / 2000” bonds became fungible and became a single security; and In 2002, the “Treasury Bonds -1999 (OT * s-1999) and the“ Madal / 1999 ”bonds were extinguished due to the fact that they reached their maturity on 24 July and 9 December, respectively. In relation to the events, it is also worth mentioning in the secondary market, the admission to the listing of the first shares, namely the shares representing 98% of the capital of “Sociedade Cervejas de Moçambique”, which gave rise to the securities “CDM” and “CDM -GTT ”, In relation to the performance of the secondary market, the market capitalization (CB), an indicator that reflects the market size or market potential, from 1999 to 2002, showed significant growth, with greater emphasis on 2000 and 2001, whose growth rates were respectively 365% and 846.4%. In 2002, the growth rate slowed down to 6.1% and in 2003 the CB reduced to 2001 levels when registering a drop of 1% in relation to the previous year (2002).(TRADUÇÃO NOSSA)