Mozambique Stock Exchange profits down 86% year-on-year in 2025

According to the report, the BVM recorded a net profit of 35.3 million meticais (€477,000) in 2025, down from 252 million meticais (€3.3 million) in 2024. The institution’s total revenues fell 25.7% to 692 million meticais (€9.3 million), while costs declined 3.4% to 657 million meticais (€8.9 million). Revenue from services, the stock exchange’s main source of income, fell from 632 million meticais (€8.4 million) to 544 million meticais (€7.4 million), a decrease of 13.9%.

Among the various revenue components, the largest reduction was recorded in “commissions for the issuance of shares and bonds”, which fell 19.5% from 466.9 million meticais (€6.3 million) to 375.7 million meticais (€5.1 million), although they remained the exchange’s main source of income. The sharp decline in profits was also associated with lower financial income, which the exchange said resulted “essentially from interest generated by financial investments, fixed-term deposits and other financial instruments”. This revenue fell 55.2% from 300 million meticais (€4 million) to 134.2 million meticais (€1.8 million).

As a result, the stock exchange’s operating result went from a positive balance of 89.2 million meticais (€1.2 million) in 2024 to a negative result of 57.9 million meticais (€784,000) in 2025. At the same time, staff costs increased 26.6% to 425.9 million meticais (€5.8 million), with the average number of employees rising from 63 to 71. Expenditure on supplies and services from third parties also increased, by 8.9%, to 137.3 million meticais (€1.9 million).

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The management said this increase was associated with “the institutional transformation process” of the Mozambique Stock Exchange, from a public company into a public limited company. The report also notes that, during 2025, the restructuring of assets related to the transformation of the BVM into a public limited company was completed, including an increase in share capital from 1.5 million to 646.5 million meticais (€8.7 million). The Mozambique Stock Exchange is wholly owned by the Mozambican State and is responsible for organising and managing the secondary market for securities. In 2025, it operated the equity and bond markets and the Central Securities Depository (Central de Valores Mobiliários -CVM), while also providing trading, settlement, custody, registration and securities management services.

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