STANBIC BANK DEBUTS A LIVE E-MARKET TRADER PORTAL

Manager Financial Markets at Bank of Tanzania (BoT), Mr Lameck Kakulu (left) launching Stanbic Bank Tanzania eMarket Trader, a live web-based foreign exchange portal in Dar es Salaam. Looking on is Stanbic Bank Tanzania Head of Global Market, Mr Erick Mushi (right) and Head of Investment Banking, Mr Manzi Rwegasira (centre). 

Manager Financial Markets at Bank of Tanzania (BoT), Mr Lameck Kakulu (left) shaking hands with Stanbic Bank Tanzania Head of Global Market, Mr Erick Mushi (right) after the launch of Stanbic Bank Tanzania eMarket Trader, a live web-based foreign exchange portal in Dar es Salaam. Looking on is Stanbic Bank Tanzania Head of Investment Banking, Mr Manzi Rwegasira (centre).

November, Dar es Salaam - Stanbic Bank Tanzania launched a live foreign exchange trading portal dubbed e-Market Trader end of last week in an effort to provide their clients with access to an integrated, web based and real time foreign exchange portal with live market insights, real-time pricing and market research to be deployed to corporate, commercial and individual clients.

The first of its kind portal in Tanzania is available through a web-based platform and is supported by all popular web browsers. The e-Market trader digital platform allows customers to trade currencies at their convenience and offers real time pricing for 64 currencies based on the market’s performance.

Speaking during the launch event, the Manager Financial Markets at Bank of Tanzania (BoT), Mr Lameck Kakulu said “We are pleased to see Stanbic Bank, one of the key players in Tanzania’s financial sector, leveraging on technology through this innovation that features real-time dealing and access to Standard Bank’s research portal.

“In the past, our clients had to call the bank’s dealing room to buy and sell currencies and were restricted to trade within working hours. However, with the launch of eMarket Trader, clients now have access to forex trading and real-time market insights” said Stanbic Bank Head of Global Markets, Erick Mushi.

The platform also enables customers to place and monitor foreign exchange orders, access historical trade data on the market, and keep a record of all deals through trading receipts. The portal has additional unique features that are tailored to the market such as a customized user interface and executive live streamed spot transactions across dozens of currency pairs.

This product aims to ensure the financial success of Stanbic customers whose businesses are linked across different global markets. Currently, USD 18 billion worth of transactions are performed on the platform and has over 5000 daily users across the continent. The introduction of the portal in the Tanzanian market lives up to Stanbic Bank’s promise to empower financial success for its customers and Tanzania.

About Stanbic Bank Tanzania

Stanbic Bank Tanzania is part of the Standard Bank Group, the largest African bank by assets with its headquartered in Johannesburg, South Africa and listed on the Johannesburg Stock Exchange, with share code SBK, and the Namibian Stock

Exchange, share code SNB. Standard Bank has a 155-year history in South Africa and started building a franchise outside southern Africa in the early 1990s.

Stanbic Bank Tanzania provides the full spectrum of financial services. It’s Corporate and Investment Banking division serves a wide range of requirements for banking, finance, trading, investment, risk management and advisory services. Corporate and Investment Banking delivers this comprehensive range of products and services relating to: investment banking; global markets; and global transactional products and services.

Stanbic Bank’s corporate and investment banking expertise is focused on industry sectors that are most relevant to emerging markets. It has strong offerings in mining and metals; oil, gas and renewables; power and infrastructure; agribusiness; telecommunications and media; and financial institutions.

Stanbic Bank Tanzania’s personal and business banking unit offers banking and other financial services to individuals and small-to-medium enterprises. This unit serves the increasing need among Tanzania’s small business and individual customers for banking products that can meet their shifting expectations and growing wealth.

For more information please contact;

Desideria Mwegelo
Head of Marketing and Corporate Affairs
E-mail:MwegeloD@stanbic.com
Mobile: +255 022 219 6382