President Mnangagwa launches online trading platform

July 16, 2018
| Report Focus News

Zimbabwe has broken new ground by becoming the first nation in Southern Africa to launch an online trading platform ‘C-Trade’ for the capital markets, setting a new path to attracting further investments on the Zimbabwe Stock Exchange (ZSE).

Launching the platform this Monday, President Emmerson Mnangagwa said the government will continue to implement suitable policies which promote the growth of the financial services sector and foster a conducive environment for business to thrive.

The C-Trade application was mooted in 2016 with the overall objective to demystify the operations of the capital markets to enable greater participation by individuals.

Following on a model implemented in Kenya through the Mpesa Trading Platform, Zimbabwe’s version has been up-scaled to feed directly on the ZSE, marking a milestone for the local bourse.

Officiating at the launch of the C –Trade Platform Monday morning, President Mnangagwa identified the centrality of this initiative to buttress the drive towards attracting further investments both internal and external.

“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,” said President Mnangagwa.

Zimbabwe now joins a pool of international markets that have implemented this innovation positioning the country equities markets for a robust growth.

This falls in tandem with the thrust towards open business as authorities forecast a major transformation.

President Mnangagwa said this development will facilitate financial inclusion.

“The C-Trade Platform is coming against a backdrop of the recent commissioning of two banks meant to financially empower women and the youths. These initiatives are in line with the 4-year financial inclusion strategy which my government launched aimed at improving access to financial services and the achievement of inclusive economic growth to benefit the majority of our people,” he added.

The government has over the last eight months provided a conducive environment for business to thrive, resulting in renewed interest by investors to commit funds into the country.

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.

Four students from local tertiary institutions who participated in the development of the trading platform Ashley Goredema, Liberty Takawira, Andrew Dewa and Gabriel Manjonjo were awarded certificates by the President during the launch ceremony.