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... ESE PARTNERS WITH ESCROW SYSTEMS (PTY) LTD

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MBABANE - The Eswatini Stock Exchange (ESE) has partnered with Escrow Systems (Pty) Ltd from Zimbabwe to automate the exchange trading platform.

Escrow Systems, a global developer and provider of financial services and capital markets solutions is a pan African company with growing business operations and partnerships in East and Southern Africa and even abroad, in Pakistan. As a secondary effect, ESE will contribute to job creation and enhanced cross-border economic integration by offering avenues for the mitigation of key financial and trade risks. This was mentioned by ESE Chief Executive Officer (CEO) Ncamiso Ntshalintshali, who said it was in the financial sector where inclusion and innovation had taken place which could unlock Africa’s financial potential.

Ntshalintshali said to help the exchange and capital markets grow, pockets of opportunities have been identified and a call was made for more stockbrokers, designated agents, investment banks/underwriters, financial analysts, market makers, to set up shop in Eswatini. He said this would also assist in financing skills development and transfer to locals.   “Old ways don’t open new doors. Automating the trading platform with new financial instruments embedded on it will open the market to companies not only to float shares and bonds as has been the trend over the past 32 years of the ESE’s existence.”

Supermarket

“ESE will be transformed into a financial supermarket eligible to trade Exchange Traded Funds (ETFs), Real Estate Investment Trusts (REITs), Global Depository Receipts (GDRs), Commercial Paper (CPs), Commodity Derivatives and Currency Derivatives, Foreign Exchange, etc.” “We’re pleased to partner with Escrow Systems to provide investors and participants with a streamlined and accurate way of handling online order placement and settlement,” said Ms Joyce Dlamini, Head of ESE. He added that this project also seeks to meet market requirements, keep pace with functional and technological developments in the securities industry and comply with international standards.

Collen Tapfumaneyi, founder and CEO of Escrow Group said, automation of ESE would elevate it to be in line with global trends and will also enable ESE to introduce a wide range of innovative products that speak to both local and international investors. One of the systems deployed by Escrow Systems was a mobile trading application, code named CellTrade, that will enable retail shareholders to buy and sell shares on ESE through the use of mobile devices as well as make payments for or receive share trade proceeds via Mobile Money wallets (MoMo). Company secretaries will be able to download company schedules as well as upload publications such as annual reports and corporate announcements.

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