The Rwanda’s Capital Market Authority is organizing once again its annual Capital Market University Challenge from 1st to 29th March 2019. The one-month long competition whose aim is exposing university students and other higher learning institutions to the capital market industry while also ensuring that the same students acquire a saving and investment culture through the capital markets.
The 2019’s challenge will be carried out by the Capital Market Authority (CMA) in collaboration with the Rwanda Stock Exchange (RSE), the Institute of Certified Public Accountants of Rwanda (iCPAR) and AIESEC Rwanda.
The Ag. Executive Director of CMA, Eric Bundugu, stressed that “We believe that the most effective way for the youth to secure their future is to venture into smart saving and investment opportunities in order to guarantee their lives sustainability and the concept of such competition was initiated to facilitate attaining such objective. Enabling young people to explore capital markets through saving and investing in capital market products (shares, bonds and any other instruments) offered by different firms at the Rwandan stock market is one of the best ways for them to secure their future.”
Prof. Edwin Odhuno, Vice Chancellor at Mount Kenya University, Rwanda while delivering his welcoming remarks, he noted that “The Capital Market University Challenge is a great opportunity for the youth; it is always a noble thing to start saving and investing through the capital market as early as possible, you are lucky to be having a chance to invest in available products on the market at such an early age.”
The 6th edition is conducted in three phases; the launch, the pre-selections, and the finals through which the best overall winners are awarded. The Capital Market Authority has launched this year’s edition at Mount Kenya University Rwanda on the 1st March 2019 whereby 700 students from all universities and higher learning institutions within Kigali attended.
The pre-selections are going to be held in all different provinces of Rwanda. On 13 March 2019, pre-selections will be held in both the Northern and Southern Provinces, on the 15 March 2019, pre-selections will be held in the Eastern and Western provinces, on the 22 March 2019, pre-selections will be held in the City of Kigali whereas the finals will be held on 29 March 2019.
The best three teams will be awarded Frw 1,500,000, Frw 1,200,000 and Frw 800,000 in the quiz category while the best three individuals will be awarded Frw 500,000, Frw 300,000 and Frw 200,000 in the written essay competition. All prizes are provided in form of shares of companies listed at the Rwanda Stock Exchange.
This 2019’s competition has so far attracted 636 participants in both the quiz and written essay categories from more than 20 Universities and Higher Learning Institutions from across Rwanda. This is by far the largest number of participants the event has ever had. For more information about the challenge, feel free to follow CMA’s Twitter account @CMARwanda and the hashtag for the event #UniChallenge19.