Rapid growth in equity is expected in the short to medium term as Zimbabwe has successfully launched a mobile trading platform for use on the Zimbabwe Stock Exchange (ZSE), opening convenient investment for every Zimbabwean.

Essentially, what this system does is to enable investors to order, monitor real time market information and sell their shares during trading hours.

The C-Trade platform can be used through the unstructured supplementary service data (USSD) form, mobile application and online, thus allowing broad participation by both foreign and domestic investors to trade in shares.

“This is a milestone for Zimbabwe. What we have done is to develop from the Kenyan model but our version is a step up as it entails trading directly on the Zimbabwe Stock Exchange. This opens further opportunities for investors who were interested in investing on our capital market,” said Tafadzwa Chinamo, the Securities Exchange Commission of Zimbabwe CEO.

Until the introduction of this mobile trading platform, participation on the ZSE was limited to corporates and a clique of elite  individuals, attributable to a knowledge gap that excluded the average investor.

This prompted the Securities Exchange Commission of Zimbabwe to implement the capital market investor education campaign last year targeted at assisting the average Zimbabwean to understand how to harness the stock market to build personal wealth.

With a minimal investment of $10, investors can now buy and sell shares on the Zimbabwe Stock Exchange opening opportunities for youths and retail investors.

“Investors will be able, through this platform, to deposit funds from mobile money into the central depository system account, buy shares, sell them and withdraw their investments using mobile money. We expect a rapid transformation in equity turnover for the ZSE as this innovation works to broaden the capital  markets and promote an investing culture  amongst  Zimbabweans,” Financial  Securities  Exchange  CEO, Mr Collen Tapfumaneyi said.

The C-Trade platform also captures the diaspora market which had largely been inconvenienced to participate on the ZSE due to the time difference.

Sitting at an impressive mobile phone penetration rate above 95 percent, Zimbabwe can leverage on this latest technology to harness the potential of the unbanked population as it promotes a savings culture that builds on long term investments.