Harare – Escrow Group on Monday officially launched its mobile and online trading platform, C-Trade which will enable investors to trade directly on the Zimbabwe Stock Exchange (ZSE), a move that will enhance capital markets.
The platform, C-Trade, can be used through the Unstructured Supplementary Service Data (USSD) platform, mobile application and online.
The C-Trade application was proposed sometime in 2016 with the overall objective to demystify the operations of the capital markets to enable greater participation by individuals.
Following on a Kenyan model Mpesa Trading Platform, Zimbabwe’s version has been up-scaled to feed directly on the ZSE, setting a new path to attracting further investments on the local bourse.
The initiative which is one of a kind in Southern Africa is being led by capital markets regulator, the Securities Exchange Commission of Zimbabwe (SECZ).
Launching the platform in the capital President Emmerson Mnangagwa said this is a great achievement in the financial services sector as it will broaden the capital markets.
“This is indeed another milestone achievement in the financial services sector as this platform will allow a broader spectrum of our society to directly trade and invest on the Zimbabwe Stock Exchange.
“This development is further set to deepen financial inclusion in the capital markets through the use of the C-Trade platform and its attendant online and mobile application which can be utilised by mobile network subscribers.
“The C-Trade platform resonates well with our mantra that ‘Zimbabwe is open for business,’ as it aims at harnessing, promoting and opening up financial markets for broader participation with increased convenience and ease,” he said.
President Mnangagwa also outlined Government’s commitment to promote conducive business environment by implementing suitable policies that will accelerate the growth of financial services sector.
Zimbabwe now joins a pool of international markets that have implemented this innovation positioning the country equities markets for a robust growth.
The successful launch of an online trading platform in Zimbabwe is a milestone achievement that opens further investment opportunities while broadly working to spread the financial inclusion net on the ordinary citizen.
During the launch President Mnangagwa handed over certificates to four students from local tertiary institutions who participated in the development of the trading platform.
The students are Ashley Goredema, Liberty Takawira, Andrew Dewa and Gabriel Manjonjo.
C-Trade is a mobile trading platform and is combination of a number of systems that enable investors to access the securities market or capital markets popularly known as the stock to enable people buy shares and all that.