Europe South Asia Asia Pacific Americas Middle East Africa BBC Homepage World Service Education



Front Page

World

UK

UK Politics

Business

Sci/Tech

Health

Education

Sport

Entertainment

Talking Point

In Depth

On Air

Archive
Feedback
Low Graphics
Help

Friday, October 15, 1999 Published at 15:20 GMT 16:20 UK


World: Africa

Mozambique opens stock exchange



Mozambique has moved further away from its socialist past with the opening of a stock exchange in the capital, Maputo.

Operations started with trading in treasury bonds worth more than $4.6m.

The first company to be listed on the market is a privatised brewery, Cervejas de Mocambique which made net profits of $11m last year.

The stock market chairman said it was hoped to have 14 companies trading on the exchange within two years.

Mozambique's planning and finance minister Tomaz Salomao said it was a sign of investors' confidence in the potential for growth of the national economy.

The government is planning to sell off the shares it still holds in some of the former state-run enterprises privatised in recent years.

Mozambique has been moving gradually towards a free market economy since the country's first democratic elections were held in 1994.



Advanced options | Search tips




Back to top | BBC News Home | BBC Homepage | ©




Africa | Americas | Asia-Pacific | Europe | Middle East | South Asia



Relevant Stories

02 Aug 99 | Africa
Mozambique debt written off





Internet Links


Mozambique News Agency


The BBC is not responsible for the content of external internet sites.




In this section

Dam builders charged in bribery scandal

Burundi camps 'too dire' to help

Sudan power struggle denied

Animal airlift planned for Congo

Spy allegations bug South Africa

Senate leader's dismissal 'a good omen'

Tatchell calls for rights probe into Mugabe

Zimbabwe constitution: Just a bit of paper?

South African gays take centre stage

Nigeria's ruling party's convention

UN to return to Burundi

Bissau military hold fire

Nile basin agreement on water cooperation

Congo Brazzaville defends peace initiative

African Media Watch

Liberia names new army chief