ZSE launches online trading platform: ZSE Direct
The Zimbabwe Stock Exchange Limited (“ZSE”) has launched “ZSE Direct”, a new platform, specifically designed for the retail investor, aiming to provide retail investors with a smart way to manage their ZSE investments and view their CSD holdings remotely.
ZSE Direct will complement the platforms already available in the market with the aim to provide more choice for investors.
ZSE CE Justin Bgoni said the plans to launch ZSE direct were prompted by a survey commissioned in the first quarter of 2020, which indicated that participation by individual Zimbabweans on the local capital market was still marginal.
“Some of the barriers cited included lack of appreciation of the investment process and the perception that investment is for the sophisticated. ZSE Direct is meant to make accessing the market very simple for first time investors but yet allow them to experience the full investment process of having their own stockbroking account and their own CSD account. Only Zimbabweans with valid IDs and Zimbabwean bank accounts will be able to register on the platform in the initial phase,” he said.
The minimum initial investment to be made through ZSE Direct is ZWL$500.
ZSE Direct will be accessible through the web portal (www.zsedirect.co.zw) and in due course a mobile application will also be launched.
Bgoni said the platform is connected to one of the commercial banks and allows investors to fund their wallets through Zipit or RTGS transfer. The platform is also connected to Ecocash and allows investors to fund their trading wallets directly from
their Ecocash wallet.
“As highlighted, ZSE direct is meant to make investment easy for retail investors. Some features to achieve that include: User Interface .We have made the platform easy to use, and the key features such as buying, selling and checking your balances are
easy to find and navigate,” he said.