The Rwanda Capital Market Authority (CMA) on Friday announced the winners of the 9e edition of the Capital Markets University Challenge during a colorful event held at the Kigali Convention Center (KCC), to mark the end of the annual competition.
University students, managers, heads of educational institutions and financial market industry players gathered to see the 15 finalists compete in front of the judges for the quiz category while the winners of the category trial were also announced.
In the quiz category, Faustin Habimana came out on top, after impressing the judges with the correct answers after the buzzer, followed by Iverson Mico Nsabagasani and Egide Tumukunde.
In the essay writing category, Pascal Niyomuremyi came out on top, followed by Samuel Tuyisenge and Daniel Mwenedata in 3rd square.
The annual activity, which aims to instill the culture of saving and investing in students of higher education institutions by introducing them to the capital market industry, attracted nearly 1,000 students this year, from 37 different universities and colleges.
Officially launched on April 19, the CMUC 2022 ended with an interesting race where the 15 candidates selected at the provincial level had to answer questions from the jury to the sound of the buzzer.
It was an exciting moment when the winners were announced and their prizes in the form of securities or stocks and bonds listed on the Rwanda Stock Exchange (RSE).
At the provincial level, the prizes were shares valued at Rwf 400,000, Rwf 300,000 and Rwf 200,000 for 1st, 2nd and 3rd winners respectively. At the national level, the top winners received securities worth Rwf 700,000 while the first and second runners-up received shares worth Rwf 500,000 and Rwf 300,000 respectively.
Speaking at the event, Eric Rwigamba, the Vice Chairman of the CMA Board of Directors, congratulated the participants of CMUC 2022, urging them to plan their lives early as they have the opportunity presented by the country.
“The 9e the edition takes place thanks to the efforts that the Capital Market Authority of Rwanda has continuously exerted”,
“They are ensuring that this program works and continues to work across the country to train our younger generation to start saving and investing at an early age, equipping them with the right skills and knowledge,” Rwigamba said.
Rwigamba said that today young people have different ways and opportunities to start earning money early and saving it compared to the past as the government of Rwanda has put in place an enabling environment for them to fully explore their abilities and creativity to thrive and prosper. .
He commended the universities and higher education institutions that are part of the program, which in itself gives the winners a good start-up capital through the various awards that the winners receive from the provincial level to the national level.
“I also want to thank the heads of these institutions, colleges and universities for creating a window and making this program possible. We want to thank you so much for being part of this journey,”
“We must be lucky that this happens because we have a very visionary leadership of our country,” Rwigamba said, congratulating all the institutions involved, including the Ministry of Finance, Central Bank, CSR and others. stakeholders.
“These institutions are working very hard to create an environment that allows for the growth, deepening, broadening and broadening of the financial sector,” he said, adding that the government is committed to making savings culture one of the catalysts of economic development.
“The government says we have to develop socially and economically if we want to become a developed country and for that to happen we need a certain level of investment,”
“The objective we have today is to achieve a GDP of savings of 30% and for this we must save and invest more in our economy, in our market, to create more jobs and increase the tax base,” Rwigamba said.
He stressed that starting today, the goal is to have 20% of GDP in the form of savings by 2022 so that the country can reach the desired level of development, taking advantage of the opportunity to call on young people to play their part.
Acting Executive Director of CMAC, Eric Bundugu said this year’s challenge took place physically for the first time after a very difficult period of the Covid-19 pandemic, thanking all students who have participated since the applications open in March.
According to Migisha Magnifique, CMUC Coordinator and Public Relations Officer at CMA, this year has seen a huge influx of online and other physical events, proving that young people are more interested in the capital market.
Today, many young people are interested in understanding the capital market industry, starting from stocks, bonds and other products offered on the exchange, with the aim of acquiring them for their personal development and growth.
“Today we have students starting microfinance initiatives, savings groups and businesses, thanks to the knowledge they gain through competition. This means CMUC is paying off,” Migisha said.
During the finale, students heard from Lucy Nshuti Mbabazi, Africa Advocacy and Partnerships Manager of The Better Than Cash Alliance, a UN-hosted partnership of governments, businesses and international organizations that is accelerating the transition from cash to digital payments to reduce poverty and foster inclusive growth.
Mbabazi spoke to the younger generation about the importance of saving, starting early and how saving one’s income, no matter how small, and investing in profitable businesses, has more benefits than wasting it on drinking and partying.
The challenge includes three stages in the quiz category at the provincial level where the winners of each stage advance to the next round. Three winners of the 3rd round at the provincial level move immediately to the national level.