Capital Market Authority (CMA) has launched the 9th edition of Capital Market University Challenge.
The Challenge is an annual competition aimed at exposing students in Higher Learning Institutions (HLIs) to the capital market industry while instilling in them the culture of saving and investment.
The launch of the contest, which was attended by hundreds of students, took place at Kigali Independent University (ULK) on Thursday March 17.
The competition helps prepare students as future investors and professionals in the capital market industry, explained Magnifique Migisha, the Public Relations Officer at CMA who is also the competition coordinator.
The annual contest seeks to promote the creation of savings clubs/groups among students by providing them with capacity building on how best, through their clubs, to save and invest through the local capital market.
Migisha said opportunities offered by the capital market products for the young people include shares, bonds or any other product that can be offered at the stock market.
They are also encouraged to invest collectively through saving clubs.
Registration open
"The students from all Universities and Higher Learning Institutions (HLIs) should start registering to participate in the competition. We urge Rwandan youth to learn more about the capital market, its benefits and opportunities. It is part of stimulating job creation,” he said.
He said that the previous competitions are already bearing fruits for all students who participated.
"We have students who participated in previous competitions and managed to set up a microfinance institution. They start 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.
Migisha explained that the competition doesn’t target only those who are studying economics or accountancy.
"We have seen some students who were studying agriculture, medicine and other disciplines who won prizes. Any student can compete irrespective of faculties they are pursuing at university,” he noted.
CMA's Eric Bundugu speaks at the launch of the 2022 University Challenge.
Since the contest was launched, he said, over 100 students have won prizes while over 15,000 participants have benefitted in different ways thanks to the competition.
Phiona Akatukunda, the 2021 CMUC Winner thanked the management of CMA for availing opportunities in the capital market challenge.
"I got to know about the challenge while in year four of university. I participated in the essay writing competition and won shares worth Rwf1 million last year. The money is still invested with capital market and I expected to continue saving on the market until I started business because I am now a graduate. I encourage everyone to join this life-changing capital market6 challenge,” she said.
Claude Rusibana, the Vice Chancellor of Kigali Independent University (ULK) in which the 9th edition was launched on Thursday, has commended the Capital Market Authority for organizing the competition that is meant to boost the saving culture among students.
How to participate
The competition framework will involve a set of quizzes and a topic for essay writing aimed at increasing awareness and knowledge among students about the capital market industry and its importance for Rwanda’s socio-economic development.
All interested students are allowed to register to participate in the Capital Market University Challenge 2022.
The registration shall be done through: www.investor.cma.rw
Previous winners are also allowed to participate in the current edition.
Individuals will compete in both Quiz and Essay categories after creating an account via this platform: http://investor.cma.
After creating accounts they will wait for the Quiz or Essay to be uploaded in the system and be communicated on when to undertake it once ready.
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.
Round 1 for the competition for the Quiz category is expected on April 19, Round 2 on April 22 and Round 3 on April 29.
Top winners in the quiz category at the provincial level will sit for a special round on national level on May 13 while physical awarding of winners is expected on May 27.
Contestants can submit their final essays through www.investor.cma.rw fr
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”.
The essay writing should be original and innovative, have not more than 800 words while copying and pasting information from websites will amount to plagiarism, punishable with discontinuation from the challenge.
Expected prizes
Awards will be given to the winners of both the quiz and essay categories in a form of securities i.e shares and bonds listed at the Rwanda Stock Exchange as a way to initiate students on the culture of saving and investing through the capital market.
Awards in Quiz category at provincial level comprise Rwf400,000, Rwf300,000 and Rwf200,000 for 1st, 2nd and 3rd winners respectively in every province.
The awards will be the same in the essay category.
The winners at national level will secure Rwf700,000, Rwf500,000 and Rwf300,000 for 1st, 2nd , and 3rd winners respectively in each category.
In addition to that, all top winners at provincial level shall get their certificate of participation.
Claude Rusibana, the Vice Chancellor of Kigali Independent University.
Eric Bundugu of Capital Market Authority addresses students during launch the 9th edition of Capital Market University Challenge on March 17. / Dan Nsengiyumva
Students follow remarks of Dr. RUSIBANA Claude, the Vice Chancellor of Kigali Independent University. / Dan Nsengiyumva