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How ‘Capital Market University Challenge’ has empowered youth to create jobs

By IGIHE
On 21 May 2021 at 11:45

As registration for participants of the eight edition of ‘Capital Market University Challenge’ gets underway, winners of previous editions have revealed that the competition has been a great opportunity for them to meet aspirations of becoming entrepreneurs.

Capital Market University Challenge brings together the youth from higher learning institutions and universities in Rwanda participating in quiz and essay categories.

Awards to the winners of both categories are made available in the form of securities of one of the domestic companies listed at the Rwanda Stock Exchange (RSE).

The competition is aimed at creating awareness among the youth about the capital market and capacitates them to become future investors.

Winners of previous editions have explained that the competition unleashed their potential to explore opportunities presented by the market whereby by they started saving through shares which enabled them to run businesses.

Redempta Singiza was a university student when he participated in the competition in 2017. He was participating along with five members of his saving group which emerged among winners and secured capital to run own businesses.

“We perceived the competition as an opportunity to promote our saving group. I was part of a team of three that competed in the essay category while three others contested in quiz category. Fortunately, both teams emerged overall best performers,” he said.

Winners in quiz category received shares worth Rwf 700,000 in Bank of Kigali Group Plc while colleagues in the essay category received shares worth Rwf 400,000 in I&M Bank as one of companies listed on Rwanda Stock Exchange (RSE).

After graduating in 2018, these students founded a company dubbed ‘Reliable Immense Company Ltd’ to offer training on digital skills and software development.

In 2019, the group traded shares owned in Bank of Kigali to expand business.

“We kept shares in I&M Bank which continue to generate profit. In fact, the Capital Market Authority presents huge opportunity for long-term saving and investment,” explained Singiza.

He requested university students to participate and tap into advantages of the CMA if they are to meet aspirations to become entrepreneurs.

Theogene Kubahoniyezu, a member of the same saving group has emphasized that the competition was a gateway to create own business in Rusizi district. He is also a shareholder of Reliable Immense Company Ltd.

“The competition opened our minds. After opening Reliable Immense Company Ltd, I managed to start own business worth Rwf 2 million from profits of the capital market and our group’s company,” he noted.

The Communication Officer at the Capital Market Authority, Magnifique Migisha has explained that the competition seeks among other things to instill saving culture among the youth and investing through capital market.

“The competition is aimed at creating deep awareness among students about the capital market and instills in them the culture of saving and making investment through the market. We are optimistic that the competition will particularly prepare the youth to become future investors of the market and professionals of the capital market industry who will extend awareness to their colleagues,” he said.

Individuals will compete in both quiz and essay categories after creating an account via http://investor.cma.rw/cmuc/login/index.php

This year, the quiz session will be held virtually through the provided link: http://investor.cma.rw

The registration deadline is set on 21st May 2021.

The competition is aimed at creating awareness among the youth about the capital market and capacitates them to become future investors.

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