SecZim introduces C-Trade

HARARE - Zimbabwe's capital markets will this week introduce a mobile application, C-Trade, in a move that is expected open the financial markets to broader participation.

Escrow Systems, a unit of the Escrow Group which provided the technical solution for the recently launched mobile traded retail bond in Kenya, spearhead this innovative online and mobile securities trading.

“This is an innovation that is aimed at harnessing and promoting the participation of investors. It makes use of the latest mobile and online technologies to deliver this to the market,” Escrow spokesperson Eliah Sarayi said.

Zimbabwe’s capital market acts as a pulse for its economic health.

Bearing this in mind, the country’s capital markets regulator, Securities Exchange Commission of Zimbabwe (SecZim), is spearheading a campaign aimed at promoting financial inclusion by increasing the level of convenience and activity in the capital market namely the stock exchanges.

The adoption of mobile and online trading harnesses very large traffic
drawn to the stock market by the added convenience in transacting.

Mobile trading has the ability to reach the grassroots, thereby encouraging participation by the smallest retail investor thus widening and deepening the capital markets.

This drive gave birth to C-Trade, an innovation that uses every day mobile gadgets and Internet connected devices to enable users to buy and sell shares on a stock exchange in Zimbabwe.

The platform allows one to place an order to buy or sell shares listed on the stock exchange; view the shares that one owns on one’s Internet enabled device, access to real-time market data such as prices of shares, volume traded, bids, offers and integrates or links the investor, the broker, the Zimbabwe Stock Exchange and the Central Securities Depository.

The application, which is downloadable from Google Play Store or IOS Apple store, will also be accessible online from a dedicated portal from July 4, 2018.

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, remittances and investments back home.

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 GDP as more capital will be channelled to the most productive areas of the economy.

—The Financial Gazette

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