ZIMBABWE’s stock exchange will begin live electronic trading of shares on July 3, its chief executive said on Wednesday as the local bourse seeks to cut red tape and attract more investors.
The new online trading platform will allow investors to access the market in real-time and trade shares directly at their convenience, and is part of market reforms aimed at increasing investor confidence at the bourse.
Alban Chirume said the ZSE hoped to have installed the software needed for live trading by Friday after which it would begin training users and testing the system.
“All these I hope to have completed so that by the 3rd of July we go live,” Chirume told reporters.
Sixty one companies are listed on the Zimbabwe Stock Exchange (ZSE), which has a market capitalisation of $4 billion.
The stock exchange last year transformed into a company from a mutual society, opening the way for a public listing on the bourse it operates.-Reuters
