The Malawi Stock Exchange (MSE) mobile trading platform meant to streamline the capital market’s operations remains under development, MSE Chief Operating Officer Kelline Kondowe has said.
The mobile trading platform, initially expected to be operational by the end of 2024, is being designed to promote financial inclusion in capital markets.
Among its features, it will allow investors to open accounts with stockbrokers and trade shares and bonds online— broadening access to the stock market, especially for those in remote areas.
Currently, investors must contact brokers and submit Know Your Customer (KYC) documents to open an account— a process the new platform aims to simplify.
Kondowe said the system relies on several external components, some of which are still undergoing upgrades.
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“We are waiting for those upgrades to be completed before we proceed with full integration. Nonetheless, we have devised workarounds that will enable us to roll out the platform, albeit with limited features,” she said.
Despite the delays, Kondowe expressed optimism that the platform would be launched this year.
“We encourage the investing public to be on the lookout for the launch of this project,” she said.
Minority Shareholders Association of Listed Companies Secretary General Frank Harawa expressed concern over the prolonged timeline.
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He said the delay was hindering participation, especially for Malawians in rural areas who must travel long distances to access stockbrokers.
“We urge the authorities to accelerate the process so that more people can easily take part in the stock market,” he added.
In an earlier interview, market analyst Bond Mtembekeza emphasised the potential impact of the mobile trading platform.
Exchange (MSE) mobile trading platform meant to streamline the capital market’s operations remains under development, MSE Chief Operating Officer Kelline Kondowe has said.
The mobile trading platform, initially expected to be operational by the end of 2024, is being designed to promote financial inclusion in capital markets.
Among its features, it will allow investors to open accounts with stockbrokers and trade shares and bonds online— broadening access to the stock market, especially for those in remote areas.
Currently, investors must contact brokers and submit Know Your Customer (KYC) documents to open an account— a process the new platform aims to simplify.
Kondowe said the system relies on several external components, some of which are still undergoing upgrades.
“We are waiting for those upgrades to be completed before we proceed with full integration. Nonetheless, we have devised workarounds that will enable us to roll out the platform, albeit with limited features,” she said.
Despite the delays, Kondowe expressed optimism that the platform would be launched this year.
“We encourage the investing public to be on the lookout for the launch of this project,” she said.
Minority Shareholders Association of Listed Companies Secretary General Frank Harawa expressed concern over the prolonged timeline.
He said the delay was hindering participation, especially for Malawians in rural areas who must travel long distances to access stockbrokers.
“We urge the authorities to accelerate the process so that more people can easily take part in the stock market,” he added.
In an earlier interview, market analyst Bond Mtembekeza emphasised the potential impact of the mobile trading platform.
