The digital automation of the Zimbabwe Stock Exchange (ZSE) trading system has stalled amid concerns a proposed loan to help carry out the project from mobile operator Econet Wireless – which is listed on the bourse – may amount to a conflict of interest.

Plans to digitise the Zimbabwe Stock Exchange (ZSE) to make transactions easier were revealed in April last year by the bourse.

And last week, Econet said it was keen to advance a “no strings attached loan” to the ZSE to digitise its trading platform and make it more accessible.

“It is time for the Zimbabwe Stock Exchange to become more accessible to ordinary people, and a proper vehicle for mobilising capital for companies,” Econet said in a statement.

This call from Econet to help the bourse has come after it has raised its shareholding in Zimbabwe-listed TN Bank to almost 100%. Subsequently, TN Bank is set to delist from the ZSE.

But Martin Matanda, the ZSE acting chief executive officer, has said Econet has not yet made an offer to the bourse. Meanwhile, a source at the ZSE, who refuses to be named, said the bourse may reject the offer as it could amount to a conflict of interest.

Last week, Econet said it was keen to advance a “no strings attached loan” to the ZSE to digitise its trading platform and make it more accessible.

“It is time for the Zimbabwe Stock Exchange to become more accessible to ordinary people, and a proper vehicle for mobilising capital for companies,” Econet said in a statement.

Other African countries that have already automated their trading platforms include the likes of Zambia, Mauritius and Egypt.