Enacy Mapakame Business Reporter
THE Securities and Exchange Commission of Zimbabwe (SECZ) will pilot the mobile share trading platform this month before it goes live in December. SECZ chief executive officer Tafadzwa Chinamo, however, said there were still some technical issues that needed to be addressed before the project is rolled out to the investing public.
Mr Chinamo said the technical team were working on interconnecting the Zimbabwe Stock Exchange system and the Central Securities Depository (CSD) before the mobile trading platform could be fully established. The ZSE has been using an Automated Trading System since July 2015.
“Vendors who supplied the ATS are from Pakistan, and the CSD was sourced from Sweden. Therefore the mobile trading system has to communicate with both systems, and for that to happen, there are some tweaks to that need to be done on both,” said Mr Chinamo.
Progress on the project had also been affected by the prevailing foreign currency challenges.
“Foreign currency has been a challenge but this has been settled now, and so by next week we are hoping more progress would have been made as we move to do some tests,” he said.
According to Mr Chinamo, the successful launch of the mobile share trades will see the capital markets regulator embark on an awareness campaign highlighting how investors can open accounts or trade using their mobile phones.