Five university students, on Friday, June 21, scooped Capital Market University Challenge awards at the national level. They are among 25 winners who were awarded at the provincial level.
The Capital Market University Challenge is a competition aimed at exposing university and higher learning institution (HLI) students to the capital market industry while instilling in them the culture of saving and investment through the capital market, and nurturing them as future investors and professionals of the capital market industry.
The 2024 Capital Market University Challenge winners are Jean Pierre Nshimiyimana, Esther Ashimwe, Vainqueur Irasubiza, Alphonse Majyambere, and Joel Rwambibi.
They were awarded Rwf 500,000, Rwf 450,000, Rwf 400,000, Rwf 350,000, and Rwf 300,000 respectively in the form of shares and bonds listed on the Rwanda Stock Exchange (RSE) as a way to instil a culture of saving and investing through the capital market RSE.
Each of the winners also received an additional Rwf500,000 from Bank of Kigali.
To secure their future well-being, young people need to venture into smart saving and investment that will guarantee sustainability, which among others includes exploring opportunities offered by the capital market products i.e. shares, bonds, or any other products that can be offered at the stock market.
They are also encouraged to invest collectively through savings clubs.
"This award is a motivation to students like me who are still in university so that we start thinking of investment and job creation through saving. I look to create a project related to ICT starting with the cash prize I have received,” said Nshimiyimana, the overall winner who is a student at the University of Kigali.
Ashimwe, a student from the University of Rwanda who emerged second, encouraged girls to participate in the Capital Market University Challenge’s next edition.
"The contest raises confidence of girls and as more women participate in this annual contest, the investment in the capital market will also increase,” she said.
Thapelo Tsheole, Chief Executive Officer of Capital Market Authority, said that 760 students from 37 universities and higher learning institutions across Rwanda participated in the 2024 Capital Market University Challenge.
Since the contest’s inception, more than 10,000 have participated in this programme, he noted.
"This initiative is specifically designed to empower students from universities and higher learning institutions from across Rwanda. It plays a crucial role in nurturing future investors and industry professionals, thereby fostering the growth and sustainability of our capital market,” he said.
He said that as Rwanda strives for self-reliance by mobilising domestic resources for socio-economic development, active participation in the capital market becomes paramount.
"Our young generation, being our most valuable asset, holds the key to achieving this goal. Therefore, I urge Rwanda’s capital market industry to continue investing in educational initiatives like this, targeting students, young professionals, the private sector, including all potential and existing investors,” he said.
Tsheole encouraged Capital Market University Challenge winners to further invest in the capital market and inspire their peers, family, and friends to participate in future editions of this challenge.
"I urge Rwanda’s capital market industry to continue investing in educational initiatives like this, targeting students, young professionals, the private sector, including all potential and existing investors,” he said.
"We thank all our partners here present, particularly the Bank of Kigali, BK Capital, and the Rwanda Stock Exchange, for their dedication to organizing yet another successful edition of the Capital Market University Challenge,” he added.
Bank of Kigali sponsored the top five students with shares worth Rwf500,000 each, hence, promoting a culture of saving and investment.
Pierre Celestin Rwabukumba, the CEO of the Rwanda Stock Exchange, highlighted the benefits of investing in the stock market.
He stated that such investments serve as a form of saving, yielding annual returns. "The value of shares increases, providing additional profits,” he noted.