The Rwanda Capital Market Authority(CMA) proceeds with its saving culture campaign among the university students, the ninth edition of capital market university challenge.
Intended to instill the saving and investment culture among the students from higher learning institutions by introducing them to the capital market industry, the challenge is brought to you every year. This year, application is open since March 17 via digital links.
At the beginning, the contest creates saving clubs which serve as platforms where members are provided with capacity building on how best, through their clubs, to save and invest through the local capital market.
Thus, the Public Relations Officer at CMA who is also the competition coordinator Migisha Magnifique says that his institution is preparing students as future investors and professionals in the capital market industry.
The capital market products for the young people include shares, bonds or any other product that can be offered at the stock market, and, according to Migisha, the challenge is already bearing fruits.
“We have laureates of previous competitions who have put in place a microfinance institution. They started saving from Rwf100. Others have created agribusiness and livestock projects thanks to saving and investing in the capital market after being inspired by the competitions,” he said adding that the competition is inclusive of all the students, not only students from finance and economics’ departments.
Since the start of Capital Market University challenge, 100 students won prizes while more than 15,000 others benefited in different ways.
How to participate
The competition includes two components including essay writing and quizzes which intend to increase awareness and knowledge among students about the capital market industry and its importance for Rwanda’s socio-economic development.
For registration one needs to go to this link https://investor.cma.rw/cmuc/login/index.php and follow instructions.
Contestants can submit their final essays through www.investor.cma.rw
The challenge will comprise of three stages in quiz category at provincial level whereby winners from each stage shall go to the next round.
Three winners from the 3rd round at provincial level shall immediately go to the national level.
The first round of the competition for the Quiz category is expected on April 19 while the second round will follow three days later on April 22 and the third round on April 29.
Winners in quiz category at the provincial level will proceed and sit for a special round on national level come May 13 while awarding ceremony is scheduled on May 27.
For those to compete under the essay category, they will submit the final essays in the system under the theme “How does the capital market finance the soci0-economic development of Rwanda”.
Among other instructions, the essay writing should be original and innovative, have not more than 800 words.
CMA insists on copy right matters and warns that copy and pasting information from other authors’ content will amount to plagiarism, punishable with discontinuation from the challenge.
Winners will not take home cash money, rather, the awards will be given in a form of securities or shares and bonds listed at the Rwanda Stock Exchange.
Awards at provincial level comprise Rwf400,000, Rwf300,000 and Rwf200,000 for 1st, 2nd and 3rd winners respectively.
At national level, the top winner will be awarded with securities worth Rwf700,000 while the first and the second runner-up will be awarded with Rwf500,000 and Rwf300,000 respectively.