The Botswana Stock Exchange (BSE) and Stanbic Bank have revealed Botswana's first tech-fuelled platform to boost financial literacy and investing culture.

The simulation platform offers potential investors practical exposure to stock trading, enabling them to grasp essential concepts in trading, stock selection, and portfolio management within a simulated environment.

According to both parties, the collaboration between BSE and Stanbic Bank Botswana, wherein the latter sponsors $110,000 (P1.485m) over a three-year period, exemplifies the strong partnership in tackling societal issues.

To promote awareness of the platform, BSE and Stanbic Bank Botswana are integrating the Stock Market Simulator into this year's annual Senior Secondary School Finance and Investment Competition, IT Web Africa reports.

The competition was launched with the aim of educating students about the importance of financial management at the grassroots level, thereby fostering a culture of investing and saving from a young age.

The CEO of the Botswana Stock Exchange, Thapelo Tsheole stated: "It (the simulator) is designed to cater to individuals of all backgrounds and levels of experience, from seasoned investors to those taking their first steps into the world of finance.

"Through user-friendly interfaces and comprehensive educational resources, we aim to demystify the stock market and make investing more approachable, vibrant and engaging for all."

Additionally, Chose Modise, CEO of Stanbic Bank Botswana commented: "This occasion represents a significant step towards democratising access to financial markets and fostering a culture of informed investment decision-making.

"It is thus aligned with our commitment to empowering individuals and communities through financial education and inclusion, whilst also building on the BSE's long-term efforts to drive greater market education."