Rwanda’s Capital Market Authority(CMA) has scheduled its Capital Market University Challenge (CMUC) 2020 edition in March this year to help the intellectual community learn the capital market literacy while also giving them an opportunity to invest in capital markets.
The annual competition will this year come with Rwf5.5million in awards compared to Rwf4.5million in 2019.
In this one-month long competition, now in its 7th edition, university students have to go through an initial pre-selection event in all provinces between March 8 – 15, 2020.
The finals will be held on April 3 where 6 winners will be awarded.
University students in the challenge have to write an essay and stand a public quiz. The quiz and essays (in English) and all questions are aimed at testing the contestants’ knowledge around capital market operations.
This year, in the quiz category, the top winner will be awarded Rwf1.5 million, the first runner-up will get Rwf1.2 million while the second runner-up will be awarded Rwf1 million.
In the essay category, the overall winner will scoop a prize of Rwf700, 000 while the first and second runners-up will get Rwf600, 000 and Rwf500, 000 respectively.
This year’s competition will attract an estimate 1000 students compared to 672 contestants in 2019 in both the essay and quiz categories from 16 universities and higher learning institutions.
“As a way to practically expose students on the culture of saving and investing through the capital market, the awards will be availed to the winners in form of shares of one of the domestic companies listed at the Rwanda Stock Exchange,” said Eric Bundungu, the Capital Market Aauthority(CMA) acting Executive Director in a statement.
Previous winners of the 6th edition can testify to how the challenge has changed their lives.
Jean Luc Reme Jabiro, a former undergraduate at University of Rwanda is one of the 2018 winners who scooped Rwf1.2 million at the advent of his graduation in agricultural studies.
“The challenge opened our eyes to commerce and capital markets. We bought shares in Bralirwa and Crystal Telecom which has enabled us to finance completion of our education degree,” said Jabiro.
Currently, he is using revenues that flew from the prize to pay for graphic design courses as he also runs a professional internship in one of the hotels in Kigali.
The grand finale will be held on 3rd April 2020 in Kigali where awards will also be presented to the best performers at the national level.