The Dar Es Salam Stock Exchange (DSE) has a mobile application that allows you to carry out stock market transactions from a mobile phone. “The objective of this mobile service is to open the capital market to all Tanzanians, regardless of location. Many people are excluded because they live too far from our licensed brokers. The time and cost of the journey to register discourages many of them, “said Patrick Musasa, its chief strategy and development officer.
With a mobile penetration of almost 65% in the country and more than 30% of the population with access to banking services, the platform will certainly open the securities market to a greater number of Tanzanians. There are only 500,000 stock market participants out of the country’s 50 million people. It is nevertheless one of the most dynamic stock markets on the continent with an increase of 39% in its index in 2014. The platform now works with the 4 mobile operators in the country.
Since its launch in late August 2015, the platform has continued to record good growth in terms of membership and today has nearly 800 regular users. But Patrick Musasa is more ambitious: “we expect to reach tens of thousands of people and attract investors who live outside the economic capital within a year.” The DSE is the first and only African stock exchange to use this technology.
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