THE Bank of Tanzania (BoT) is planning to introduce a mobile platform that will enable retail investors to apply for and trade treasury bills and bonds.<\/p>\n
The central bank said the platform is expected within this year after working out a methodology with stakeholders.<\/p>\n
The plan centered on reaching mass participation for retail investors on bills and bonds but also reducing the low amount of tender to 100,000\/- from the current 500,000\/-.<\/p>\n
Bank of Tanzania’s Manager of Financial Markets, Lameck Kakula, said next month they expect to meet stakeholders including mobile network operators to map out a way forward.<\/p>\n
“We are working with FSDT [Financial Sector Deepening Trust) in introducing the platform….this will enable more players to buy government securities,” Mr Kakula said during five-day BoT’s media seminar.<\/p>\n
Currently, he said, they are working on stage requirement system of the mobile bidding platform for bonds before launching the initiative.<\/p>\n
“April [next month] we will meet with stakeholders to map out process requirements and document them.<\/p>\n
“We\u2019ll be in a better picture after the April meeting…but we want to launch the platform this year,” Mr Kakula said.<\/p>\n
The plan could potentially take investing in treasuries to the mass market by eliminating the friction in the current market infrastructure.<\/p>\n
“The central bank aims at creating a simple platform where retail investors will tender directly without a third part using their mobile phones,” Mr Kakula said.<\/p>\n
Process requirements are documented expectations, targets and specifications for business\/service processes.<\/p>\n
They may be collected from multiple groups of stakeholders such as business units, customers, internal customers, users and subject matter experts.<\/p>\n
Data from BoT showed that the number of individual investors increased from 2.0 per cent in Q2 of 2018 to 6.0 per cent in Q2 last year.<\/p>\n
Mr Kakula said in Kenya through the Central Bank of Kenya (CBK) introduced such services of using mobile phones mid last month.<\/p>\n
Under Kenya’s platform the new service will make it easier to process transactions of Ksh 140,000 (8.2m\/-) and below.<\/p>\n
“The bank is pleased to inform you about the roll-out of the Treasury Mobile Direct (TMD) services, designed to facilitate investment in government securities using the mobile telephone,” CBK said in a notice to investors last month.<\/p>\n","protected":false},"excerpt":{"rendered":"
THE Bank of Tanzania (BoT) is planning to introduce a mobile platform that will enable retail investors to apply for and trade treasury bills and bonds. The central bank said the platform is expected within this year after working out a methodology with stakeholders. The plan centered on reaching mass participation for retail investors on […]<\/p>\n","protected":false},"author":84,"featured_media":4641,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[274,2445],"class_list":["post-4640","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-bot","tag-lameck-kakula"],"yoast_head":"\n