By Staff Reporter
NMB Bank Plc has partnered with the Dar es Salaam Stock Exchange (DSE) to stimulate investment and democratize access to capital markets. Launched yesterday, the collaboration introduces a DSE stock market mini app, dubbed ‘Hisa Kiganjani’ integrated within the NMB mkononi App.
This initiative seeks to reduce barriers to entry for both seasoned and novice investors, streamlining the trading experience and potentially increasing liquidity within the DSE.
The unveiling of this solution in Dar es Salaam creates a unified digital environment where comprehensive trading information and real-time share transactions for all DSE-listed companies are accessible with a single click through the NMB Mkononi App. This advancement aims to lower transaction costs and time associated with traditional brokerage services, offering a more efficient and direct route to market participation.
Speaking during the launch of the platform, the NMB Bank Chief Executive Officer Ruth Zaipuna described the solution as a major milestone in the bank’s digital transformation journey and will deliver a smarter, faster and more user-friendly experience for investors at the DSE.
Zaipuna said the solution follows successful integration of NMB Mkononi app and the DSE Hisa Kiganjani app thanks to hard work done to Information Communication Technology (ICT) teams from the two entities.
She said the new solution aligns with the bank’s financial inclusion strategy and will greatly help trade volumes at the bourse.
“This new platform will help facilitate the processes of buying and selling shares and will provide real-time market data and is equipped with robust security measures, which are highly valued by investors seeking a seamless and secure trading experience,” She said.
Zaipuna noted that the bank will continue to play a leading role in providing financial literacy including stock market literacy to enable more Tanzanians to embrace opportunities offered by stock and capital markets.
“We will continue investing in technology to ensure that we continue to provide seamless banking experience for all our customers,” she added.
On his part the Dar es Salaam Stock Exchange (DSE) Chief Executive Officer Peter Nalitolela during the event noted that the new stock market app will empower users to navigate the DSE market more efficiently while enjoying a highly personalised trading experience.
“This new app will provide a whole new trading experience at the bourse as it will now be easy for millions of Tanzanians to buy and sell stocks by a single click on their smartphones without necessarily visiting stockbrokers,” he said.
He added, “You do not have to necessarily have a lot of money to invest in stocks. I urge all Tanzanians, especially the youths, to invest in stocks to enjoy the rewards in the future,” he added.
On his part, the Minister for Planning and Investment, Prof Kitila Mkumbo who officiated as guest of honor during the event commended the new stock market platform adding that it will greatly improve efficiency at the bourse.
“This will be a catalyst for increased trade at the Dar es Salaam Stock Exchange. The biggest challenge is however to ensure mindset change and ensure that more Tanzania embrace stock market trading,” he said.
Mkumbo hinted that plans are already underway to ensure that more government institutions list at the DSE starting next year which will help improve transparency and accountability for these institutions.
