The University of Coimbra supports training and corporate governance at the Mozambican Stock Exchange

The University of Coimbra in Portugal will collaborate with the Mozambique Stock Exchange (BVM) in the areas of human resources training and corporate governance, according to a memorandum of understanding signed between the two parties.

According to the Portuguese university, which was consulted by Lusa this Sunday, the memorandum of understanding was signed on April 24 during the Mozambique-Portugal business forum, which took place in Lisbon, and envisages “the establishment of academic, scientific and cultural cooperation.” “.

The initiative gives “priority to cooperation in the economic, legal, management, accounting and auditing fields, as well as communications and information technology,” the same information says.

The agreement, signed by the rector of the University of Coimbra, Amilcar Falcao, and the chairman of the board of directors of the BVM, Salim Cripton Vala, also involves “the development of human resource training activities, joint participation in academic activities and research activities for the improvement of management systems and good corporate governance, among other things.”

Among other planned initiatives, the BVM intends to issue the first green bonds as soon as the relevant legislation is approved, later this year, the institution’s president told Lusa in January.

“I believe that once the regulatory instruments are approved in 2024, we will have the first issuance of sustainable finance and that it will certainly be a green bond issuance, since it is in this sense that we are working with one of the citizen financial institutions that showed early interest in implementing it in Mozambique,” ​​he said.

“The lack of this type of product has harmed Mozambique’s position in these indices,” he noted, acknowledging that the institution is “very carefully” monitoring sustainable finance bond opportunities, including the role that several international institutions have taken on to “support African countries’ transition to “green” growth.”

“Proceeds from these sustainable bond issues are intended to support the transition to a green economy in Africa and will support these organizations’ efforts in climate change mitigation and adaptation, sustainable infrastructure, efficient and sustainable use of natural resource, forestry and biodiversity projects and others,” he emphasized.

According to Salim Wala, “Since 2022, the BVM has been preparing proposals for a supporting document and proposals for a regulatory instrument to launch sustainable finance instruments, which include green bonds.” [para financiar investimentos na economia verde] and blue bonds [economia azul]but also other types of specific obligations, such as social responsibility obligations.”

Mozambique still lacks regulation of these issues, such as characteristics and trading, in accordance with internationally recognized procedures, “namely by organizations such as the International Capital Markets Association (ICMA)”, while at the same time it is already “exchanging experience” with shares. exchanges with neighboring countries such as Tanzania, Botswana and South Africa, as well as with Portuguese-speaking countries: Cape Verde and Angola.

In a conversation with Lusa, Salim Wala admitted that BVM is already an “investment alternative” for ordinary citizens and that “there are many investors who participate in the stock market”: “Although not yet at the level we would like. In 2016, the number of investors registered on the Central Securities Exchange (CSSE) was 6,495, and at the end of 2023 – 25,451 investors, an increase of 291.9%, which reflects the growing interest of citizens in investing in the capital market and the stock market. value exchange. “.