Young people have been urged to adopt the culture of saving and investing through Rwanda Stock Exchange (RSE). This was during a tour of the local bourse by students from University of Rwanda, and University of Tourism, Technology and Business Studies (UTB) as part of RSE activities to mark this year’s Global Money Week. The Global Money Week started on March 12 to March 18, and was held under theme “Money matters matter”.
RSE chief executive Pierre-Celestin Rwabukumba said it crucial for anyone to start saving early. “This should be done by parents when one is a toddler until the child is able to do it their own and the cycle should not be broken from generation to generation.”
“Remember, every coin counts...it’s a block-chain technology of sorts for the country’s economic development DNA,” according to Rwabukumba.
Joseph Munyaneza, a financial analyst at RSE, said young people should explore all opportunities to save and invest regardless of their means and income. He urged the students to always save part of their pocket money by buying shares in firms listed on the local exchange.
“One does not need a lot of money to start saving, the right time to save and invest is now, starting with that little money in your pockets,” he said.
He said there are already many student clubs and youth groups that save and invest through the stock market, adding that the bourse has huge opportunities that can help them secure their financial future.
Speaking at the event, Daniel Acheumpong, the business development manager at International Association of Students in Economic and Commercial Science (AISEC), said it is importance for young people to learn how to manage money, save and invest. “Young people should learn to plan their expenses… I hope you are going to put into action what you have learnt from this visit and interaction with RSE officials,” he said. The organisation partnered with RSE to enhance savings awareness among the youth.
Students speak out
Christophe Iradukunda, a student from University of Rwanda’s School of Water and Environment, said he has always thought that for one to save or invest, they require a lot of money. “I didn’t know that share price of some counters is as low as Rwf60 and that with small and regular investment in shares one can accumulate wealth through the bourse,” he said. Bank of Kigali closed at Rwf295 on Friday, Bralirwa Rwf150; Crystal Telecom Rwf59 and I&M Bank Rwf97.
Iradukunda pledged to encourage his colleagues so that they can form savings and investment groups.