Ziidi Trader users have received clarification on why the platform does not allow stock trading during weekends or after 3:00 PM on weekdays.
The clarification followed a social media post where a user questioned why attempts to buy shares repeatedly failed, saying the system kept indicating that the market was closed.
"For those who have tried to buy/sell stocks with Ziidi Trader, have you been successful? Every time I try to buy stocks it tells me the market has been closed," the user said.
Responding to the concern, Safaricom PLC explained that trading is only available during official stock market hours.
"Apologies. The market is open Monday-Friday 9.30am-3pm," the company clarified.
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This means Ziidi Trader follows the same schedule as the stock exchange, trading in the evenings and on weekends cannot be processed because the market itself is closed.
President William Ruto presided over the launch of Ziidi Trader in an event in Westlands, Nairobi on Tuesday, February 10.
Speaking during the launch of the platform at the Nairobi Stock Exchange (NSE) in Westlands, Nairobi, Ruto said the new service broadens market access like never before.
He noted that the Ziidi Trader breaks down long-standing barriers that have excluded many potential investors and brings opportunities closer to all citizens.
"Through the seamless integration of stock trading into the MPESA platform, millions of Kenyans, especially our youth and women, will gain simple, affordable, and convenient access to investments in shares, bonds, and other products listed on the Nairobi Securities Exchange, placing the tools of ownership and growth directly in their hands," he said.
Ruto described the launch of Ziidi Trader as a proud moment, noting that ordinary people can now buy company shares directly, without intermediaries.
"This is a proud moment for me that finally ordinary people can buy shares. You don’t have to look for a CDS account, you don’t have to know any broker, they don’t have to come to the exchange, they can trade from the comfort of their homes using their phones," he said.
Ziidi Trader is a product within the M-Pesa mobile application that allows users to buy and sell shares of companies listed on the NSE directly through M-Pesa.
Users of the product can also track the prices of shares of different companies listed in NSE in real time.
The Ziidi Trader application uses existing M-PESA KYC credentials and the M-Pesa money pin to authorize trades. Safaricom has also tapped Kestrel Capital as the sole broker of all trades under the Ziidi Trader platform.
