Let’s play the stock exchange game

Nairobi; Kenya: Few people understand how the stock exchange actually works.

It is always either too mystical, or complicated, given the kind of jargon used in stock exchange.

In fact, business news touching on gainers and losers, always sound like coded Greek message to a particular target audience. Now, a certain tech whiz wants you to play a game of stock exchange, to make you understand it better.

The app, HisaPlay, is a mobile stock simulation game that mirrors NSE real time stock trading. It helps to familiarise players with practical financial literacy skills required to trade on the securities exchange. The app uses system-generated currency, making it risk free.

After winning a million shillings along with Gerald Kibugi in the Safaricom Appstar Challenge 2012, Jamlick Maina wanted to do something worthwhile with the money, and was advised to invest in stocks. Jamlick could not understand the words they used or even the process. After successfully going through the process, he developed the app which now helps other people understand trading in stocks.

Speaking to City Biz, Jamlick said the app targets people who have no idea how stock exchange works, but may have an ambition of investing.

“From the feedback we have from the private data, it looks like an addictive game. Most users say they now have a better understanding of stock exchange.”

The app gets direct data from the NSE and feeds it into their system. They use virtual currency which a user buys via Mpesa. For example 100,000 virtual currencies can be purchased at Sh100, which is the minimum value a user can buy. You register your name and phone number initially, and are taken through a process.

“Once you register, there is a tutorial. Later on there is a chat forum where you ask questions and get direct answers,” said Jamlick
“What we are trying to do is to make a replica of what happens at NSE. You even compete with other guys on the forum and learn a lot,” he added.

HisaPlay is amongst four of the startups funded by Nailab last month. Speaking to City Biz, Nailab CEO and co-founder Sam Gichuru, said the app would go a long way in breaking down the stock market.

“Hisa play is all about changing cultures, by demystifying stock trading using a language young people understand with very low risks. We hope to see a higher uptake of this type of investments,” said Gichuru.

The full version of the app will be released at the end of October this year.