Analysis of the contribution of the Mozambique stock exchange in the financing process for small and medium enterprises – 2020 to 2022
Keywords:
Mozambique Stock Exchange, SME Financing, Capital MarketAbstract
This study aimed to analyze the contribution of the Mozambique Stock Exchange to the financing process for Small and Medium-sized Enterprises. For its materialization, a qualitative approach was used, which consisted of the administration of semi-structured interviews with BVM managers, and a detailed literature review on the subject. The results showed that the participation of SMEs in the Mozambican capital market is limited, with only one SME listed on the BVM's "Second Market". The main challenges identified include the lack of internal organization of SMEs, absence of financial audits and inadequacy to regulatory requirements. In addition, many SMEs are unaware of the benefits and functioning of the capital market, preferring traditional bank financing. The BVM's support policies need to be improved, especially in the dissemination of knowledge and simplification of listing processes. It is recommended to increase financial education among SME entrepreneurs, simplify regulatory requirements, strengthen partnerships with accounting and auditing institutions, and promote greater integration between SMEs and the capital market. This study highlights the need for a multifaceted approach to increase SME participation in BVM, promoting sustainable economic development and job creation in Mozambique.
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