Last Updated: 23 September 2020
The Mozambican Stock Exchange and the Secretary of State for Sport initialed a Memorandum of Understanding. , on September 18, 2020. aiming at the use of the stock exchange by clubs and the sports community in the country.
The signed protocol is aimed at the implementation of the Legal Regime for Sports Limited Companies (SAD´s), the collaboration between the two institutions in the fulfillment of their duties and competencies, as well as the promotion of sport and stock exchange culture in Mozambique.
With this purpose, SED and BVM intend to contribute to the continuous improvement of the business environment and competitiveness of the national economy, through the inclusion of the various Sports Corporations on the Stock Exchange.
The Memorandum of Understanding has as its object: the creation of technical conditions and institutional support in order to operationalize the Legal Regime of Sports Limited Companies (SADs), so that they can be financed through the BVM; the implementation of training and awareness actions for the leaders of sports clubs, sportsmen and the masses of associations in order to better understand the capital market and the BVM, in particular its products, services, markets and available financial instruments.
It is intended with the cooperation, to promote initiatives and actions in the field of education and financial literacy, to the employees of the Secretariat of State for Sport, Federations and Associations, sports clubs, sportsmen, and the public in general, as well as to contribute in organizing actions and joint holding of seminars, conferences, symposia, fairs and workshops, including sporting, cultural and other events.
The signing of the Memorandum of Understanding was witnessed by the Secretary of State for Sport, Carlos Gilberto Mendes, who in his speech said he hoped that with the instrument now initialed, the social impact could be very valuable if clubs assume that with adherence to the Mozambique Stock Exchange, many of the problems facing its finances as well as its sustainability may be overcome.
For his part, the Chairman of the Board of Directors of the Mozambique Stock Exchange, Salim Cripton Valá, said that it is a pleasure to have sport and especially clubs as partners as these will be a specific segment and that the partnership with SED will be instrumental in the sustainability of sports clubs and a catalyst for the sports community to learn more about the products of the capital market and the services of BVM.Photo Events