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Oliver Kazunga, Senior 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 last week, the Forex Trading School Africa chief trading officer, Mr Kuda Manzanga, said their vision was to promote the growth and development of online currency to an industry similar to other economic sectors contributing to the Gross Domestic Product. 

He said the national campaign on online currency trading was being rolled out across the country where participants under go free two-hour workshops. 

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

“Through our national campaign, we are targeting 70 000 people to be imparted with online currency trading skills as we work towards building an industry which also offers employment in the country,” said Mr Manzanga. 

He said online currency trading was the world’s biggest market generating over 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 is 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 included in the forex trading. 

“The permission from ZSE allows that each person that we talk to we can also tell them about trading on the ZSE. That’s where the level of operation is at the moment, we are just allowed to talk about ZSE and share trading on the ZSE,” he said. 

Zimbabwe and Africa at large, Mr Manzanga 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 only 134 in a country with 15 million people. 

“What we are saying to people is learn how to trade on international markets and earn forex as a profit; use that profit to buy shares in your own stock exchange.” 

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

Of late, Forex Trading School Africa has embarked on regional tours to countries such as Botswana, Zambia and Malawi offering free mentorship programmes on online currency trading as part of efforts towards making the continent a financial hub. — @okazunga