companies
The government is pushing for listing of mining companies on the Malawi Stock Exchange (MSE) to ensure enhanced ownership by the public.
Minister of Mining Monica Chang’anamuno said this during ‘Times Exclusive’ programme on TTV recently.
“We have asked all mining companies who want to establish businesses in Malawi to list on the local bourse so that Malawians should have a chance to own part of such companies and enjoy the benefits of the country’s minerals,” Chang’anamuno said.
In an interview, mining expert Grain Malunga said It is the wish of any company to seek local participation as it brings financial and economic stability to a country.
He said this is also good for investments in related sectors.
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MSE Chief Executive Officer John Kamanga welcomed the proposal.
Stockbrokers Malawi Limited Equity Research Analyst Kondwani Makwakwa said extending this requirement to other companies could bring substantial benefits to the market.
“Moreover, having more companies listed will promote price discovery, ensuring that stock prices accurately reflect their fundamental values.
“From an economic perspective, increasing the number of listed companies will enable them to raise capital effectively. This, in turn, will create jobs and boost productivity across the economy,” Makwakwa said.
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Minority Shareholders Association of Listed Companies General Secretary Frank Harawa said investors are ready to put their money in the businesses once they list.
