Tanzania: Mobile user investors at Dar bourse increase

Dar es Salaam Stock Exchange (DSE) has said the number of investors accessing the trading platform using mobile phone increased considerably by 200 per cent

The DSE Chief Executive Officer, Moremi Marwa said in a CEO Quarterly note that the number of mobile users accessing the bourse increased to 3,000 in quarter one (Q1) this year from 1,000 in the last quarter of last year.

The phenomenal has pushed the number of users to close to 3,000 investors who are accessing the bourse infrastructure using their mobile phones. 

When the mobile platform was introduced, users accessing the bourse were 700 in last year Q3 but increased to 1,000 at the end of Q4.

DSE Mobile Trading envisaged that the number would increase as more and more people get to know the existence and operability of this technology.

The platform, the only in the world, enables investors to buy and sell listed shares using their mobile phones through Automated Trading and Central Securities Depository infrastructure.

The infrastructure was launched during last year’s third quarter when CRDB listed its right issue share. The advent of the bourse mobile trading technology provides access to a wider and growing range of investment and savings instruments on the capital markets.

It is expected to widen the equity and debt trading activities especially upcountry where brokers are not present. The platform was launched last August to allow people upcountry where brokers are not present to participate on the bourse.

The platform was designed by Maxcom Africa and is compatible with all mobile phone operators.

The programme aims to allow more Tanzanians to participate in the bourse as currently only 400,000 people participate in a country of 50 million people.
Source: Daily News, reported from Dar es Salaam, Tanzania
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