Mnangagwa to launch C-TRADE

Mnangagwa to launch C-TRADE
Published: 03 July 2018 (305 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

Parents skeptical about their children's safety

by Staff reporter | 19 January 2019 | 148 Views

BREAKING: MDC leader's young brother abducted

by Mandla Ndlovu | 19 January 2019 | 214 Views

Mnangagwa puts Zimbabweans on thin ice

by Presia Ngulube | 19 January 2019 | 260 Views

PHOTO: Kombi crews and their passengers being searched at roadblock

by Justin Mutenda | 19 January 2019 | 205 Views

PHOTO: Results of stupidity

by John Manzongo | 19 January 2019 | 227 Views

PHOTOS: Chamisa attends funeral of 22 year old army victim

by Mandla Ndlovu | 19 January 2019 | 241 Views

WATCH: Police and Army bosses disown officers killing citizens

by Mandla Ndlovu | 19 January 2019 | 205 Views

Mnangagwa arrives in Kazakhstan

by Staff reporter | 19 January 2019 | 145 Views

Zupco re-introduced in towns, $1 trip

by Staff reporter | 19 January 2019 | 164 Views

Chamisa's allies charged for subverting Mnangagwa's govt

by Staff reporter | 19 January 2019 | 126 Views

Zimbabwe eyes rejoining London Bullion Market

by Staff reporter | 19 January 2019 | 107 Views

Mnangagwa offering scholarships to study in Russia and Azerbaijan

by Presidential And National Scholarships Department | 19 January 2019 | 112 Views

ZANU PF in crunch meetings over army killings

by Mandla Ndlovu | 19 January 2019 | 303 Views

WATCH: Temba Mliswa supports deployment of army to crush citizens

by Mandla Ndlovu | 19 January 2019 | 202 Views

How impartial are these human rights organisations?

by Munya Shumba | 19 January 2019 | 138 Views

Zimbabwe explains reason for blocking social media

by Staff reporter | 19 January 2019 | 232 Views

'Third hand behind Zimbabwe disturbances'

by Staff reporter | 19 January 2019 | 232 Views

300 suspected looters arrested in Bulawayo

by Staff reporter | 19 January 2019 | 119 Views

Zimbabwe protest death toll from riots rises to 12

by Staff reporter | 19 January 2019 | 119 Views

Married woman follows rapist for more sex

by Staff reporter | 19 January 2019 | 141 Views

Mnangagwa urged to dump Davos tour

by newzimbabwe.com | 19 January 2019 | 115 Views

Teacher kills self in school storeroom

by Staff reporter | 19 January 2019 | 118 Views

Another Grace Mugabe in the making!

by Mapombi Adonha | 19 January 2019 | 200 Views

Govt employees abandon politicised clean-up campaign in Gutu

by Staff reporter | 19 January 2019 | 76 Views

War vets endorse MDC Alliance town chair

by Staff reporter | 19 January 2019 | 123 Views

Violent Zimbabwe protest organiser goes into hiding

by newzimbabwe | 19 January 2019 | 113 Views

Chamisa's supporters in SA ask for ANC to step in

by African News Agency | 19 January 2019 | 92 Views

Plot to embarrass Mnangagwa in Switzerland

by Staff reporter | 19 January 2019 | 142 Views

'Hyenas & dogs masquerading as protesters went on a rampage in Bulawayo'

by Ezra Tshisa Sibanda | 19 January 2019 | 226 Views

Why is Zimbabwe in this situation, God of Zimbabwe where are you?

by Dr Masimba Mavaza | 19 January 2019 | 168 Views

Plot to oust Chiwenga thickens

by Mandla Ndlovu | 19 January 2019 | 391 Views

A responsible govt cannot ignore Its citizens Mnangagwa has failed us

by Mbonisi Solomon Gumbo | 19 January 2019 | 169 Views

Imports push fridge makers to the edge

by Staff reporter | 19 January 2019 | 140 Views

Mnangagwa needs a proper team

by Cephas Msipa | 19 January 2019 | 148 Views

Mining sector to meet Chitando over forex allocation

by Staff reporter | 19 January 2019 | 100 Views

More deadly protests lined-up in Zimbabwe

by Staff reporter | 19 January 2019 | 251 Views

Zimbabwe local currency recipe for disaster

by Staff reporter | 19 January 2019 | 141 Views