The President of Mozambique spoke today in support of expanding citizen participation in the economy by listing over 480 enterprises covered by public-private partnerships (PPPs), major projects, and corporate concessions on the Mozambique Stock Exchange (BVM).
The head of state, Daniel Chapo, stated that according to the law, these 487 enterprises involved in PPPs, major projects, and concessions must be part of the BVM, and Mozambicans must have the opportunity to participate in these companies.
These statements were made during a ceremony marking the 28th anniversary of the BVM and the initial listing of MECTS, the first PPP company to enter the national stock market.
According to Chapo, the listing of this company signifies a change in the application of legislation regulating PPPs and major projects. He emphasized that MECTS should be the first, but not the only or last company allowed to be quoted on the BVM.
The Chairman of the BVM Board of Directors, Pedro Costa, supported this position, calling the listing of MECTS a landmark event for the national capital market. He noted that the listing of MECTS is an innovative step because it is the first PPP company accepted for listing on the Exchange.
In the manager's view, this operation opens the way for other companies falling under PPP legislation to follow the same path. He added that the significance of this act goes beyond the mere listing of one company, as it expands the range of issuers and allows other projects to do the same.
Chapo recalled that the Public-Private Partnership Law provides for reserving a portion of the charter capital of these enterprises for sale through the stock market, preferably to Mozambican citizens, but he expressed regret over the delay in implementing this measure.
He noted that 15 years have passed since this legislation was adopted and 28 years since the founding of the BVM, and only now is the initial listing of the first company under the PPP regime taking place. The President reiterated the need to eliminate laws that create opportunities for Mozambicans but whose implementation is postponed 'indefinitely.'
For the country, the President stated, it must transition to a phase where citizens are not merely indirect beneficiaries of investments on national territory. He said: 'We do not want an economy where Mozambicans are only workers and consumers, but rather an economy where they are also entrepreneurs, investors, shareholders, and owners of productive assets.'
Daniel Chapo advocated the idea that revenues from major projects should transform into real opportunities for citizens to participate in company capital and accumulate assets. He stated that young Mozambicans—entrepreneurs, working women, civil servants, farmers, and small business owners—should find opportunities in the capital market to enrich themselves and participate in economic growth.
The head of state also addressed companies covered by PPP legislation, asserting that compliance with national participation obligations should not depend on the individual initiative of each operator. He stressed: 'Fulfilling legal obligations for national participation is not optional. Compliance with the law cannot depend on the goodwill of companies.'
MECTS is a Mozambican technology company that manages the Electronic System for Sealing and Tracking Goods in Transit (SEERC), implemented in partnership with the Tax Authority, and is also involved in developing and managing digital platforms for modernizing institutional and business processes.