YouthConnekt: Youth tipped on savings culture

CMA’s Ag Executive Director, Eric Bundugu speaks to the youths about the importance of saving through capital markets. Courtesy.

More than 2,500 youths attending the sixth edition of the YouthConnekt Convention from across Rwanda and the diaspora have been urged to secure their financial future early by saving and investing through the Rwanda’s capital market.

YouthConnekt Convention is an annual event that attracts thousands of youths from all districts of Rwanda and abroad, not only to discuss the country’s development but also showcase their achievements and set goals for the future.

The Acting Executive Director of the Rwanda Capital Market Authority (CMA), Eric Bundugu, stressed that; “Capital market is the best place for young people to invest for the future; when you buy a share of stock, you are actually buying ownership into a living. Over time, these companies will release more products, gain more customers, grow earnings, acquire other companies and grow further.”

He challenged the youth to embrace the savings culture which he said was critical to growing the country’s economy.

“CMA has committed to run education campaigns targeting the youth segment of the Rwandan population through various forums to encourage them to save and invest through the capital market,” he said.

Patrick Shema, a youth from Nyabihu District, said; “We really understand the benefits of saving and investing in the stock market as it pays back in the future so that we can be able to grow our businesses easily.”

He said that in order to secure a better future, they need to venture into smart savings that will guarantee sustainability, which includes venturing into the capital market and buying stock or bonds offered by different firms at the bourse.

“Since the market offers an opportunity to invest as a group, we as young people can form investment groups and pool funds to buy shares or government and corporate bonds since investing on the stock market does not require huge sums of money,” he said.

He said that after investing even a small sum, they can continue raising capital by consistently buy a small number of shares, and eventually accumulate enough savings to invest in other ventures.

Rwanda Capital Market Authority (CMA) says it aims to help the youth across Rwanda to know more about the importance of saving and investing through the capital market at a young age and assist them to understand capital market operations in the country.

editorial@newtimes.co.rw

 

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