Escrow Group launches C-Trade Fantasy platform
RYAN CHIGOCHE
Escrow Group on Tuesday this week launched C-Trade Fantasy platform, as part of efforts to enhance and stimulate local capital markets participation.
The C-Trade Fantasy is a virtual trading platform that educates investors to trade in real market conditions.
Escrow Group partnered with Nedbank and Alpha Media Holdings to establish the platform, which will go live on September 15, 2022.
Speaking at the launch in the capital, Escrow’ Group CEO, Collen Tapfumaneyi said the platform will provide essential education on investment and will instill a savings culture which has been lacking.
“The challenges bedevilling our market range from a lack of investor awareness and confidence and the absence of a savings and investment culture. A savings culture is critical to an investments culture which in turn is critical to capital market and economic development,” Tapfumaneyi said.
He added: “The main objectives of the initiative are to impact knowledge on investment in securities and create a culture of saving and investing in adult Zimbabweans and the youth. It further aims to enhance financial management and entrepreneurial skills among the Zimbabwean youth.’’
Nedbank described the platform as an “edutainment initiative’’ targeting Zimbabweans especially the youths to participate in the capital markets. The bank will provide banking and settlement support and will help participants to open banking accounts for their investments as well as provide the settlement backbone for the platform.
Participants also receive free professional training and ongoing coaching from Piggy Bank Advisory investment researcher Batanai Matsika.
“I think globally what we are seeing is a revolution in the finance sector. There is now the internet of things where investment is being done using technology and digital platforms. Therefore, there is a need to really tap into young people so that we are not left behind as a society,’’ Matsika said.
He added: “I’m quite excited to be guiding the young people on how they can come up with investment strategies, philosophies using various methods including fundamental analysis, technical analysis and things like that.”
