The mobile trading of securities will begin on July 4, a move which will result in convenience in the buying and selling of shares listed on the Zimbabwe Stock Exchange.
BY BUSINESS REPORTER
This is being spearheaded by capital markets regulator, Securities Exchange Commission of Zimbabwe (SECZ) and seeks to promote financial inclusion by encouraging participation by the smallest retail investor. This is billed to widen and deepen the capital markets.
The drive has given rise to C-TRADE, an innovation that uses every day mobile gadgets and internet connected devices to enable users to buy and sell shares on the Zimbabwe Stock Exchange.
The platform allows one to place an order to buy or sell shares listed on a stock exchange, View the shares that one owns on one’s internet-enabled device, access to real-time market data, for instance, prices of shares, volume traded, bids and offers and links the investor, the broker, Zimbabwe Stock Exchange and Central Securities Depository.
The C-TRADE suite has payment gateways giving investors throughout the world a chance to take part in the country’s capital market. Locally, it links with mobile money services empowering investors to trade securities on the go.
Zimbabweans in the diaspora can also trade and pay through international payment channels thereby allowing for financial inclusion and remittances and investments back home.
Analysts say mobile trading of securities enables the economy to benefit effectively from the mobile penetration rates across the country, by empowering all the mobile subscribers to participate in the capital markets thereby ultimately translating into an increase in Gross Domestic Product as more capital will be channelled to the most productive areas of the economy.
Its activities are closely followed by investors who use the capital market to check the economic pulse.