The 8th edition of the Capital Market University Challenge organized by Capital Market Authority is underway.
The contest which targets university students, aims to equip young people with investment skills and inculcate in them a culture of saving and investing for the future through participation in the capital market.
This article will explore five things to know about the challenge and how it will benefit students.
The opportunities
According to Magnifique Migisha, the Capital Market Authority’s Public Relations Officer, the contest exposes students in universities and higher learning institutions (HLIs) to saving and investment opportunities offered by through capital market and prepares them as future investors and professionals of the capital market industry.
He said the youth should not wait for graduation to start saving, urging them to venture into smart saving and investment to explore opportunities offered by the capital market products including shares, bonds or any other product to be offered at the stock market.
By instilling in them this culture of saving and investment, such opportunities prepare them as future investors and professionals of the capital market industry.
The youth are also encouraged and supported to invest collectively through saving clubs.
CMA has promoted the creation of savings clubs/groups among students in universities and HLIs by providing capacity building training to establish saving clubs on how best to run their clubs and how to save and invest through the local capital market.
How are students competing in UniChallenge21?
Over 1,000 students registered for the Capital Market #UniChallenge21.
The contest has gone full digital as all registered students are competing through the digital platform accessible through http://investor.cma.rw.
The competition involves both a set of quizzes and a topic for essay writing.
Round 1 quiz category took place May 25.
Round 2 for the competition for the Quiz category took place on May 28.
The contestants for the Capital Market University Challenge under the quiz category passed the 2nd round quiz on Tuesday June 1.
Criteria for essay category
For those to compete under the essay category, they will submit the final essays in the system under the theme "Why should the youth consider saving and investing in the capital market at an early age”.
All contestants are to submit their final essays on June 2.
The essay should, be original and innovative, Have not more than 800 words.
Copy and pasting information from websites will amount to plagiarism, punishable by discontinuation from the Challenge.
What are prizes for the winners?
Awards will be available to the winners of both the quiz category and essay category in the form of securities i.e shares and bonds listed at the Rwanda Stock Exchange (RSE) as a way to initiate students on the culture of saving and investing through the capital market in a more practical and lively manner.
Three winners have to be awarded at provincial level and three winners at National level.
How previous winners benefitted
University students who were awarded in the previous Capital Market University Challenge have managed to create jobs and continued to save through the capital market.
A group of six students who took part in the Capital Market University Challenge while still at university in 2017 in University of Rwanda-Huye campus have now formed a company thanks to the Rwf1.1 million prize that helped them to save through capital market in Bank of Kigali and
I&M Bank listed on Rwanda Stock Exchange (RSE).
Dubbed "Reliable Immense Company Ltd”, the company provides practical professional training on computer programmes and software for capacity building.
Théogène Kubahoniyezu, who is part of the group and was among the three that contested in the quiz category, said that he also managed to start his own stationary company in Rusizi district apart from being a shareholder in "Reliable Immense Company Ltd.