Back in May, we exclusively reported that the Zimbabwe Stock Exchange (ZSE) was working towards introducing a platform where investors can buy and sell shares. ZSE is calling the service ZSE Direct and the website is now up!
As indicated when we spoke to ZSE officials back in May, the design is indeed friendlier to first-time investors when compared to C-Trade. When C-Trade launched it had a ridiculously difficult registration process that discouraged first-time investors. It later improved on this but I still feel the registration is much simpler to understand on ZSE Direct.
Another difference between ZSE Direct and C-Trade is that Stockbrokers will be able to approve their clients. When we spoke to ZSE a few motnhs ago they highlighted that this helps in two regards – i) Relatonship building and ii) KYC & AML issues;
The ability to select clients by a stockbroker cements the relationship between the client and the stockbroker and this helps when the client requires advice from the selected broker. It is easier for the stockbroker to deal with clients he is familiar with and also helps with KYC and AML issues.
How to register on ZSE Direct
ZSE uploaded this video on their YouTube channel on how to register on ZSE Direct;
Update: At the time of writing, ZSE Direct is actually in the final phases of testing and therefore users logging on can’t actually buy/sell their shares