Forex Trading School Africa spreads wings

FOREX Trading School Africa has spread its wings to Botswana as part of its regional focus in imparting online foreign currency trading skills and making the continent a financial hub.

Under its mentorship programme, the institution has availed $50 000 for mentorship and last month funded trading accounts with $50 each and trained over 500 people in Bulawayo and Harare in addition to thousands that have been imparted with online foreign currency trading skills in recent years.

The school has also lined up mentorship programmes in Zambia and Malawi next month and in April this year.

Forex Trading School Africa chief trading officer Mr Kuda Manzanga said:

“Last weekend we were in Francistown where we trained 50 people on Saturday. And on the following day, we met 150 potential currency traders in Gabarone.”

Just like the local mentorship programmes, he said the Botswana programmes were free of charge and trading accounts for the prospective entrepreneurs were funded with 200 pula each.

“Participants at the two events were really eager to venture into online currency trading and as an institution, we will do everything at our disposal to ensure other countries within our region or in the continent are empowered so that in the long-term, part of Africa if not the whole continent is recognised in the global village as a financial hub,” said Mr Manzanga.

Online currency trading is the world’s largest market generating over $7 trillion a day while in London alone, over $2,7 trillion is exchanged through the virtual platform. Based on the statistics, Mr Manzanga said Africa is losing out on the benefits that come with online currency trading.

Forex Trading School Africa, which was established in 2016 has received Government buy in. During the launch of the Forex Trading Association of Zimbabwe (Fotraz) recently, Industry and Commerce Deputy Minister Raj Modi said they were ready to support the association by classifying online currency trading into a Special Economic Zone.

In separate interviews, some of the local entrepreneurs who have gone through the forex trading school mentorship programme hailed the initiative saying it has transformed their lives.

“Ever since I went through the forex trading school mentorship, I would say my life has really changed because on a monthly basis, I am able to realise anything above $800 and even $2 000,” said Mr Talent Mapfumo. — @okazunga