Zimpapers Logo

Business Reporter

THE Forex Trading School Africa has launched a national campaign to impart online currency trading skills across the country targeting 70 000 potential traders.

Addressing a press conference in Bulawayo on Monday, the school’s chief trading officer, Mr Kuda Manzanga said their vision was to promote growth and development of online currency trading that contributes to the country’s economy like other sectors.

“We have launched a national campaign to conscientise people about online currency trading and this is being done through workshops.

“Through our national campaign, we are targeting 70 000 people, ” said Mr Manzanga.

He said online currency trading was the world’s biggest market generating more than US$7 trillion a day while in London alone, more than US$2,7 trillion was being exchanged through the cyber space platform.

Based on the above statistics, Mr Manzanga said, online currency trading was an industry with huge benefits such as economic empowerment through employment creation and taxation to the State.

The forex trading school has so far taken the national campaign to major cities such as Bulawayo, Harare and Mutare, among others. Mr Manzanga said his institution has also partnered with the Zimbabwe Stock Exchange (ZSE) to convey information about trading of the stock markets.

“We have partnered with the ZSE to spread the news about trading. ZSE has given us permission to incorporate trading on stocks in Zimbabwe,” he said.

Zimbabwe and Africa at large, he said, were not advanced in understanding financial markets and thus the Forex Trading School Africa national campaign was making efforts to teach people on the need to trade.

“To show that Zimbabwe is not advanced in understanding the markets, for example, the number of trades that were executed on the ZSE today were 134 only in a country with 15 million people.

“What we are saying to people is that they should learn how to trade on international markets and earn forex as profit which they can use to buy shares on the stock market,” said Mr Manzanga

He said people were not participating in their own stock markets because no one was talking to them about such markets.

Forex Trading School Africa officials have been to Botswana, Zambia and Malawi offering free mentorship programmes on online currency trading.