E-Trade for Africa
82% of adults in Tanzania are engaged in savings, but formal access to banking products is only 13.9% as of 2013. Commonly mentioned barriers to accessing finance/formal banking products is lack of physical access, and high minimum balance requirements.
A-Trader is Tanzania's first online/app based trading platform that allows anybody with a mobile phone/internet access anywhere in Tanzania/the world, to buy and sell shares on the Dar Es Salaam Stock Exchange (DSE). It has no minimum balances, and free access for basic accounts.
Even with 40M mobile phone (5M smartphone) and 17M internet users, online/mobile trading is not possible. And with US$96M invested in the DSE coming from foreign entities in H1 2016, real-time access/trading ability is key.
The aim of A-Trader is to remove barriers preventing Tanzanians, and millions more (300M internet and 130M smartphone users) in 25 other countries with legacy stock exchange models in Africa, from accessing investment and savings options.