Winners of ninth edition of Capital Market University Challenge awarded

On 2 juin 2022 at 07:25

Rwanda Capital Market Authority (CMA) has awarded six winners of the Capital Market University Challenge’. The challenge organized by CMA 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 awarding ceremony took place at Kigali Convention Centre (KCC) recently on Friday 27th May 2022 while the contest had kicked off at Kigali Independent University (ULK) on 17th March 2022. Participants contested in Quiz and Essay categories.

Egide Tumukunde from IPRC Karongi was representing the Western Province and emerged third in Quiz category.

Iverson Mico Nsabagasani from the University of Lay Adventists of Kigali (UNILAK) emerged second while Faustin Habimana from the University of Rwanda – College of Education was the overall winner in Quiz category.

In the Essay category ; Daniel Mwenedata from the University of Rwanda- College of Business and Economics took the third place ; Samuel Tuyisenge from the Institute of Legal Practice and Development (ILPD) emerged the second while Pascal Niyomuremyi from Davis College and Akilah emerged the overall winner.

All winners were awarded shares in companies registered on Rwanda Stock Exchange (RSE) to instill the culture of saving.

The first winners in both categories received shares worth Rwf400,000 each, second winners received shares worth Rwf300,000 while those who took the third place were awarded shares worth Rwf200,00 each.

Saving culture

Students who reached the contest’s grand finale received mentorship from experts in the financial sector who tipped them on the key to success.

These include Lucy Nshuti Mbabazi, the Head of Africa Advocacy and Partnerships of The Better Than Cash Alliance who urged students to embrace saving culture.

The Better Than Cash Alliance is a UN-hosted partnership of governments, companies, and international organisations that accelerates the transition from cash to digital payments in order to reduce poverty and drive inclusive growth.

She urged them to avoid unnecessary expenses so that they can make savings to buy plots of land, houses or run businesses.

Mbabazi also requested them to consider creating own jobs because some of them might not be employed after graduation.

She reminded students that working together will be a key to achieve great things.

“If you want to go far, walk together. I have understood the significance of this saying through savings known as ‘ibimina’. Members of these groups have sought a solution through teamwork instead of heavy reliance on banks," Mbabazi noted.

The Board of Directors Vice-Chairperson of the Rwanda’s Capital Market Authority, Eric Rwigamba said that offering opportunities for the youth to learn from different activities and benefits of CMA is of great significance for the creation of new jobs.

The Executive Director of CMA, Eric Bundugu also stressed the relevance of instilling the culture of saving among the youth, running businesses, buying shares and treasury bonds to pave the way for their better future.

Participants of the contest revealed that it was an opportunity to learn more about CMA.

“I thank CMA for having brought us together in this contest to understand deeply the functioning of the financial sector. I had ambitions to make savings and have embarked on the journey along with my colleagues, thanks to this competition. The contest is very helpful for the youth perceived as the future of the nation,” said Sandra Nadege Uwayezu from Kepler College.

The contest has so far attracted over 10,000 participants since its inception.

Students participated in essay and quiz categories.
The panel of judges which selected winners.
Three winners were awarded in each category.
The Board of Directors Vice-Chairperson of the Rwanda's Capital Market Authority, Eric Rwigamba extolled the contest's significance to the youth.
The Executive Director of CMA, Eric Bundugu stressed the relevance of instilling the culture of saving among the youth.
Lucy Nshuti Mbabazi encouraged the youth to embrace saving culture.