Zimbabwean startup ZimStocks provides a platform for monitoring stock performance on the country’s stock exchange, as well as empowering current and future investors with investment knowledge.
The platform was launched in October 2013 after ten months of development and is made up of a blog and an Android application.
“ZimStocks aims to turn data into information in an easily accessible format and allows users to get to the information as quickly as possible to allow more informed and quicker decisions,” founder Des Chitewe told HumanIPO.
“We help ordinary people build wealth on the stock market.”
The app features a portfolio section, allowing users to keep track of their investments or test out their investment strategies.
“The mobile application includes published stock information, business news and an intuitive ‘insights’ feature that uses algorithms to pull out information from the data that is not necessarily published,” said Chitewe.
While the app provides live access to Zimbabwean stocks, the blog serves as an educational tool for experienced and would-be investors.
“The blog delivers stock market investment education in simple to understand language. At the end of the day the user is responsible for making a decision on their investment portfolio but we empower them with the tools that can help them grow to be confident investors,” said Chitewe.
The project is currently self-funded but Chitewe is in the process of applying for financial assistance through an accelerator program.
“Since the app launched I have been overwhelmed by comments from users who see a place for the app in their daily routine. Some investors have also expressed an interest,” he said.
The company hopes to expand beyond Zimbabwe and provide similar services to other countries on the continent.
ZimStocks is currently available free of charge while the company focuses on expanding its user base, however Chitewe said the company has a long-term outward facing business model that he hopes will solidify the company’s position in the business-customer sector.
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