Mnangagwa to launch C-TRADE

Mnangagwa to launch C-TRADE
Published: 03 July 2018 (103 Views)
Zimbabwe's capital markets are set for their most significant development in recent years as President Mnangagwa officiates at the launch of C-TRADE tomorrow.

C-TRADE is an online and mobile trading platform for the trading of shares on the Zimbabwe Stock Exchange, and will be the first of its kind in Sub-Saharan Africa.

The platform will enable investors, both local and foreign to purchase securities from anywhere in the world anytime, using mobile devices.

The initiative is being led by capital markets regulator, Securities Exchange Commission of Zimbabwe (SECZ) and seeks to promote financial inclusion by encouraging participation by the smallest retail investor.

SECZ chief executive Tafadzwa Chinamo said; "The launch is going to happen tomorrow and the President has already accepted to officiate at that. And after that what you will be seeing more of is our campaign as SECZ to educate the public on what investing on the capital markets is about."

Mr Chinamo added that C-TRADE is expected to widen and deepen the capital markets, and that the capital markets regulator was taking the issue "very seriously".

"We have taken the issue of deepening and broadening the capital markets very seriously, to the extent that we added a new committee to our board of investor education," he said.

The technical partner for the mobile share trading platform is Escrow Systems, a unit of the Escrow Group that provided the technical solution for the mobile traded retail bond in Kenya last year.

The system will allow for mobile trading of both bonds and shares. The ZSE and the Financial Securities Exchange (Private) Limited (FINSEC) already have systems in place that list and trade bonds. Debt listing rules have since been gazetted and paved way for the listing of bonds.

So far, the ZSE has listed one bond (Getbucks) and FINSEC also has three Debt listings, namely the Infrastructure Development Bank of Zimbabwe (IDBZ) tranches 1 and 2, and the UNTU U-Gain Bond.

An analysis of the stats show that 2017 saw quarterly increases in flows into equities.

The second and third quarter of last year realised 48 percent and 87 percent growth in turnover, respectively, leading the local bourse's mainstream index closing the third quarter at 418,39 points up from the 145,27 level at the beginning of the year, a 188, 01 percent leap.

As at the end of November the mainstream index had hit an all-time high of 534,13, with $451,71 million having been fed into equities.

Typically, capital markets investments cover a wide range of products, but Zimbabwe's capital markets are not well developed and are dominated by shares although one can invest in Collective Investment Schemes /Unit Trusts and other privately sold funds.

SECZ has since indicated plans to introduce a wide range of investment products such as real estate investment trusts (REITS) and derivatives.

- the herald

Tags: Mnangagwa, ZSE, C-Trade,
 0

You May Like These Videos

Comments

There are no comments.

Latest stories

Mnangagwa says, 'Zim poised to be jewel of Africa'

by Staff reporter | 18 July 2018 | 137 Views

Pay rise for civil servants

by Staff reporter | 18 July 2018 | 179 Views

Inside Chamisa's winter of discontent

by Tichaona Zindoga | 18 July 2018 | 160 Views

Fading giants name new club boss

by Staff rpeorter | 18 July 2018 | 128 Views

Mnangagwa to name, shame land barons

by Staff reporter | 18 July 2018 | 157 Views

Matanga bans Chihuri raffle ticket sales

by Staff reporter | 18 July 2018 | 144 Views

Goba tribunal takes oath of office

by Staff reporter | 18 July 2018 | 94 Views

Hands off ZEC, says Youth League

by Staff reporter | 18 July 2018 | 115 Views

MDC-Alliance spoiling for fight they can’t win

by Lloyd Msipa | 18 July 2018 | 112 Views

Victory is certain, claims Mnangagwa

by Staff reporter | 18 July 2018 | 98 Views

Zimbabwe inflation rate hits 2,91%

by Staff reporter | 18 July 2018 | 96 Views

Bosso set for EGM

by Staff rpeorter | 18 July 2018 | 77 Views

Air Zimbabwe offers reward package

by Staff reporter | 18 July 2018 | 119 Views

Bosso fans group donate to ball-boys

by Staff reporter | 18 July 2018 | 57 Views

'Review of taxes, utility costs'

by Staff reporter | 18 July 2018 | 109 Views

Teachers sue property developer after stands deal sours

by Staff reporter | 18 July 2018 | 111 Views

Cheating couple locked up

by Staff reporter | 18 July 2018 | 160 Views

Cold spells till August

by Staff reporter | 18 July 2018 | 148 Views

Hippo attack, drown women in Zambezi river

by Staff reporter | 18 July 2018 | 113 Views

Tamborinyoka seeks removal from remand

by Staff reporter | 18 July 2018 | 103 Views

Chamisa's postal vote challenge hits a brickwall

by Staff reporter | 18 July 2018 | 156 Views

Churches organise peace march

by Staff reporter | 18 July 2018 | 56 Views

Chamisa declares polls stalemate

by Staff reporter | 18 July 2018 | 153 Views

MDC Alliance candidate in stands scandal

by Staff reporter | 18 July 2018 | 53 Views

Mudzengi vows to fell Mutsvangwa, Mliswa in Norton

by Staff reporter | 18 July 2018 | 61 Views

Porter stabs colleague over $3 debt

by Staff reporter | 18 July 2018 | 43 Views

Kazembe's henchmen spared jail for stealing flour

by Staff reporter | 18 July 2018 | 44 Views

Robbers pounce on teachers, loot gadgets

by Staff reporter | 18 July 2018 | 53 Views

No going back on ballot papers: Zec

by Staff reporter | 18 July 2018 | 47 Views

Mnangagwa dangles more incentives for civil servants

by Staff reporter | 18 July 2018 | 48 Views

Mnangagwa, Chamisa to face off

by Staff reporter | 18 July 2018 | 134 Views

Vote buying rampant during election campaigns - ZPP

by Stephen Jakes | 18 July 2018 | 42 Views

Redesigned voting booth exposes Zec fears

by Staff reporter | 18 July 2018 | 59 Views

Black market rates hit 100% ceiling, why and how?

by Staff reporter | 18 July 2018 | 80 Views

Citizens now live in fear due to Zanu PF mobile messages - ZPP

by Stephen Jakes | 18 July 2018 | 49 Views

Shamu preaches 'bhora musango'

by Staff reporter | 18 July 2018 | 80 Views

Mpofu refuses to testify in Chief Ndiweni case

by Staff reporter | 18 July 2018 | 51 Views

Mthwakazi economy can sustain it's people and the continent

by Stephen Jakes | 18 July 2018 | 41 Views