CMA takes savings culture drive to schools

Rwanda’s Capital Market Authority (CMA) has embarked on a countrywide sensitisation campaign among students to invest in local stock markets.
A cross section of students at Adventist University of Central Africa. (Appolonia Uwanziga)
A cross section of students at Adventist University of Central Africa. (Appolonia Uwanziga)

Rwanda’s Capital Market Authority (CMA) has embarked on a countrywide sensitisation campaign among students to invest in local stock markets.

The campaign, according to Magnifique Migisha, CMA’s senior communication expert, is designed to create awareness and enhance knowledge about capital markets among the youth. Migisha said encouraging the students to invest in local stock markets will enhance Rwanda’s capacity to mobilise resources domestically.

 

He was speaking during a sensitisation campaign which attracted over 800 students at the Adventist University of Central Africa (AUCA) in Masoro, yesterday.

 

This is the second time CMA is conducting a similar campaign since the year began. The Capital Market Authority says the idea is to provide students a platform to invest their savings in stock markets for long term benefits.

 

“It is essential for the youth to plan for their financial future, and the stock exchange provides investment vehicles they can use to achieve this objective,” he said.

According to Migisha, capital market gives the youth a secure avenue for mobilising savings, hence securing their financial future.

Gervais Ndiyizeye, a lecturer at Adventist University of Central Africa, said introducing a savings culture in schools will greatly enhance Rwanda’s efforts to achieve economic goals.

“It is important that we encourage students to participate in the country’s saving programmes to achieve economic sustainability,” he said.

According to Andre Gashugi, the Chief Executive Officer, Rwanda National Investment Trust Ltd (RNIT), promoting a savings culture in schools will translate into more startup capital and boost entrepreneurship in the country.

The CMA initiated a national public education programme to facilitate an interactive and educational forum to enable more understanding and benefits of savings and investing through the capital market, he added.

Meanwhile, students have been encouraged to invest in Iterambere Fund to accumulate more wealth. Gashugi noted that allowing students to buy units in collective investment scheme is the most efficient way to encourage innovation among students. He said a unit will be sold to students at only Rwf100.

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