The Rwanda’s Capital Market Authority (CMA) has encouraged young people to make the most of the investment window through the local capital market.
This was during this week’s Ministry of Youth’s monthly YouthConnekt Hangout, under the theme ‘National Employment Programme and Smart Saving for Self-reliance’.
Theogene Kubahoniyesu, a former winner of the annual Capital Market University Challenge whose saving club won about Rwf 1.1 million invested in stock, said were already reaping benefits.
He said: “Our company, BSA Group, started as a students’ saving group and won the 4th edition of Capital Market University Challenge, we got financial skills and amazing prizes. Small amounts saved daily add up to huge investments at the end. Many, including myself, have started saving a very small amount that 90% of youth afford.”
Kubahoniyesu said that, “We won over Frw1.1 million in Capital Market University Challenge, we did not use the money but as CMA teaches us the culture of saving and investing, we bought shares in some of the listed companies, after one year we invested in other businesses and as of now we have the business worth over Frw3 million and we still have shares in stocks.”
The Communication Officer at the Capital Market Authority, Magnifique Migisha, addressing hundreds of students during the YouthConnekt Hangout Rwanda urged them to secure their financial future by saving and investing in the nation’s capital market as there were various products that would be reasonably priced for the Rwandan youth.
He encouraged them to take advantage of the available opportunities so that they can save and invest wisely in the capital market products.
He stressed that “Besides understanding capital market products, the youth ought to be educated on the need to plan for their financial future ahead of time.
CMA Rwanda is carrying out a number of public education initiatives meant to bridge the financial literacy gap, especially among young people by facilitating an interactive and educative forum to enable up-country youth to start saving and investing through the capital market.
YouthConnekt Hangout is an interactive multi-stakeholder platform, which connects young people to opportunities that exist especially in the private sector, where they can develop their entrepreneurial skills and get jobs to contribute to the country’s development.