ZSE gets favourable consultants response

zimbabwe stock exchangeOliver Kazunga Business Reporter
THE Zimbabwe Stock Exchange (ZSE) says it has received a “good” response of consultants interested in undertaking a project to install an automated trading system at the bourse. The deadline for submission of bids was on Thursday last week. ZSE chief executive officer Mr Alban Chirume yesterday told Business Chronicle that although he could not disclose the number of respondents to the tender, the figure of consultants interested to undertake the project was good.

“We have received a good response from consultants interested to install the project. However, for now I can not tell you the exact figures because members that are supposed to look at the tenders have not yet been consulted,” he said.

The local bourse is seeking to recruit qualified persons with appropriate experience encompassing membership of a professional body, previous consultancy in financial services sector in implementation of Information Communication Technology systems, minimum of three active reference sites and proven project management skills.

“We have not yet started analysing the applications received. It is only next week when we will be able to say out the number of applications and the level of response in terms of local or foreign.”

In February this year, Securities Commission of Zimbabwe chief executive officer Mr Tafadzwa Chinamo told journalists during a financial reporting workshop in Kadoma that the delay in automation of the bourse had nothing to do with funding.
He said the automation had been delayed by lack of skills know-how locally.

Automation of the ZSE entails transforming from use of manual system when conducting trading to computerisation.
If automation is implemented, daily trading on ZSE can improve from $1 million to between $5 million and $6 million.

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