ZSE launches online data portal

HARARE- The ZSE has launched an online data portal which will provide information on listed companies to local investors, foreign investors and stakeholders.
 
ZSE acting chief executive officer Martin Matanda said they have launched the information portal as part of their modernisation efforts.

"We believe what we have achieved has set a benchmark in the region and as well as on the African continent… This is not something that has been achieved in other markets in our region. We believe we are the first to do so.
 
"The ZSE approach emphasizes full engagement with all stakeholders and to this end we've taken additional steps to incorporate social media in the functionality of the portal," he said.
 
Matanda added that the role of social media in this initiative is critical and they will use facilities like Twitter and Facebook to interact with people.
 
He indicated that they showcased listed companies comprehensively on the portal which will help the firms to get "exposure to the outside world."
 
"Many corporate websites that employ social media have information that is out of date and attract negative comments.
 
"I would like to ensure stakeholders that ZSE has taken the necessary step to ensure that we respond and avoid such negative media," said Matanda.
 
Furthermore, Matanda mentioned that they are pursuing a bigger picture than just information dissemination.
 
"Naturally following on from creating an environment where there is immediate and universal access to investor information we will move to a fully electronic communication platform for the benefit of all our stakeholders," Matanda said.
 
Finance Minister Tendai Biti, in a speech read on his behalf by ZSE chairperson Eve Gadzikwa said the introduction of the data portal helps create an information platform for international investors to obtain the latest information on investment opportunities in Zimbabwe.
 
"Hence we are promoting and branding Zimbabwe properly as an attractive investment destination. There is now more transparency than ever before as stakeholders' information requirements are being met," he said.
 
Biti noted that as part of ZSE's capacity building exercise they are now able to respond to the needs of the stakeholders "who have been looking for a mechanism to obtain as close as possible to real time information at a click of a button."
 
ZSE chair Eve Gadzikwa said the data portal is just a taste of what they have in store.
 
"We are obviously looking at automating the exchange as a key target …it's in the horizon and the ZSE board and management is actually working on that," she said.
 
Gadzikwa did not however give specific dates concerning the introduction of the automation project although she assured that the board is "very serious about modernising the exchange."
 
Matanda highlighted that access to the ZSE's data portal is free and these will be offered through their website (www.zse.co.zw) and different social media facilities.  The website was developed by Big Law, who will be, in the interim, managing the website on behalf of the ZSE.
 
He stated that they spent close to $80 000 to set up the data portal system.
 
"Certainly from a cost perspective you can do away with hard copy communication which will save listed companies a significant amount of money and increase productivity," he added.