By BUUMBA CHIMBULU
A Mobile Trading Application to boost investment by local and foreign investors in companies listed on the Lusaka Securities Exchange (LuSE) from any part of the world has been launched.
With the application called MyLuSE, users will now be able to buy and sell securities regardless of their location.
The Online Platform allows the public to directly trade shares, bonds and other financial instruments on the LuSE, says Finance Minister, Bwalya Ng’andu. Dr Ng’andu explained that the platform would simplify the often misconceived idea that the stock market was complex, risky or only for a select group of wealthy people.
He said this in a speech read by Permanent Secretary for Budget, Emmanuel Pamu yesterday in Lusaka during the launch of the Application.
“The simplicity of the online platform is its accessibility; anyone with a phone and mobile money account can access the platform. You can purchase securities on the LuSE such as shares or bonds,” Dr Ng’andu said.
He indicated that Government was aware of the lower participation levels in the Capital Markets, especially on the stock market.
He said it was therefore Government’s to ensure that Zambians participated actively in utilising the financial instruments that are made available in the market.
“The increased use of mobile services in Zambia is undeniable. As businesses and financial institutions, it is important that we leverage on technology to make financial products and services accessible to all Zambians,” Dr Ng’andu said.
LuSE Board chairman, Raphael Kasonde, expressed confidence that the innovation would open doors for a more robust capital market in Zambia.
Mr Kasonde said the platform enabled LuSE to target a greater number of local retail investors in urban as well as the more remote parts of the country
“The LuSE Mobile Trading Application is a digital platform that allows users to have direct access the LuSE market. The LuSE, with MyLuSE application, aims to enhance the levels of financial literacy, amongst the general public, by reaching out to a wider number of potential and current investors,” he said.
