DAR ES SALAAM STOCK EXCHANGE, NATIONAL MICROFINANCE BANK LAUNCH ANNUAL TSH2 MILLION STUDENT INVESTMENT CHALLENGE

Students from higher learning institutions have the next three months to compete and win 2m/- courtesy of NMB Bank and Dar es Salaam Stock Exchange (DSE).

In a statement, DSE said the competition was launched in Dar es Salaam on Saturday and will last 90 days with three top winners sharing a cash prize of 2m/- and internships.

This is the second time in a row that NMB supports the project. “The competition will be open to all students of higher learning institutions who are to get a virtual capital of 1m/- and invest it through buying and selling financial products, winners will be determined by their sound investment, portfolio value and their contribution in the discussion forum,” the statement added.

The Investment challenge is an annual programme targeting local students from higher learning institutions under the title of the DSE Scholar Investment Challenge which is an online simulation of live trading and investment of securities and financial products.

The DSE Chief Executive Officer, Mr Moremi Marwa, said that the objective of the competition is to educate and encourage the youth to develop a culture of saving and investing by demonstrating in practical way on why and how to buy and sell securities (listed on DSE) and financial products available in the financial market space.

“At the end of the challenge, students are expected to gain business, finance and economic skills and understanding and develop key mathematical techniques and applications in a collaborative and time-pressured environment,” Mr Marwa said.

Marwa added that throughout the challenge period, participants will learn on how prices, indices, information and other data in the stock exchange and the overall financial markets space, are affected not only by the fundamental performance of listed companies.

“DSE has been enjoying support from NMB in driving its financial literacy programme -- which is one of NMB’s Corporate Social Responsibility pillars.

NMB also supports financial literacy programmes through its NMB Business Clubs and training of farmers through NMB Foundation Agriculture Development.