Monday, August 8, 2022
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Home Tech Kenya’s HisaPlay Raises $11K to Up its virtual stock simulation game

Kenya’s HisaPlay Raises $11K to Up its virtual stock simulation game

by Sam Wakoba
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photodune-903240-stock-market-pricing-abstract-m-1732x1155Kenya’s Hisa Play has raised Ksh 1 million (11,223.35 USD)  to quicken its roll out phase and pimp its marketing, product support and normal overheads and meet increasing need for players’ to understand their finances.

The financial simulation game founded by Jamlick Maina, the C.E.O,  Charles Njihia the CTO and Vivian Maina in charge of Business Development aims to help players know how, why, when and where to invest to see a profitable return on investment.

Jamlick Maina told TechMoran, “The App is a virtual stock simulation game that mirrors the intense trading activities at the NSE and other securities market around the world. It runs on Android platforms and can be played either individually or as a group.”

The game is simple. One downloads the application from the website or Google Play, then signs up.  Then they get access to various tutorials to learn the game, se NSE listed companies and see their activities on the dashboard then using virtual shares emulating  real NSE shares learn stock trading.

Users earn points called income which again can be used to trade in or save and remain in the game to the end.

“I wanted to invest  but I did not wish to run business nor put it in a bank. Someone recommended investing in the stock market  and it was the hardest thing to do because the information was complex and I was not sure if the investment was the safest,” Maina an IT graduate from Kenya’s JKUAT told TechMoran. “Through a lot of hardships and failures, I understood the stock market then it hit me that I was not the only one going through the same struggle.”

Maina and his team then decided to develop a game that will help users learn to invest in the stock market and not just IPOs based on hype but understanding of the market. The games aim is teaching platform that offers experience and confidence to the ordinary mwananchi.

Though the downloads are free, Hisa Play aims to make money on every purchase of system generated currency which users pay via Safaricom’s M-PESA.  In-App ads and partnerships with financial institutions such as banks and stock brokers are also other ways of monetising the game.

“Our primary market are youths between the age of 16 to 35 years of age because they have no  exposure how  the stock exchange works ,two they have a disposable income with offering at the NSE   is cheap to invest ,they have access to android phone as its estimated that they are currently 4.5  million smartphones in Kenya and the biggest owners are young people,” concludes Maina.

 

 

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