Five new companies listed on Mozambique stock exchange

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Five new companies listed on Mozambique stock exchange

7:59 CAT | 10 Aug 2018

Photo: Confederação das Associações Económicas de Moçambique - CTA

Five Mozambican companies have recently joined the Mozambican Stock Exchange (BVM), with a view to raising capital, announced Agostinho Vuma, president of the Confederation of Mozambican Economic Associations (CTA), the largest employers’ association in the country.

The newly listed companies are COTUR, VBM, Água Vumba, Mozambique Power and Sociedade Moçambicana de Medicamentos, said Agostinho Vuma.

Another 26 companies are making arrangements to meet the requirements to be listed on the country’s stock market.

The president of the CTA pointed out that the interest of Mozambican companies in the BVM is increasing, due to benefits such as reduced interest rates and a 50% cut in Corporate Income Tax (IRPC) and Individual Income Tax (IRPS).

“Listing on the exchange is the best alternative for investment in agricultural production, support for small farmers and the revitalisation of the national manufacturing industry,” said Vuma.

Source: Lusa