The challenge organized by the Capital Market Authority (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.
Interested students can register [{{here}}->https://investor.cma.rw/cmuc/login/index.php].
The registration to participate in the contest started on 17th March 2022 during a ceremony attended by hundreds of students at Kigali Independent University (ULK).
The registration will be closed on 15th April 2022.There are no limitations for the number of participants.
As the registration gets underway, participants of the previous edition have shared experiences where they got many opportunities as they got inspiration for saving culture and learnt more about CMA.
“I thank the management of CMA for offering these opportunities and encourage every student to participate in this life-changing contest,” said Phiona Akatakunda who won in last year’s contest at the level of Kigali City.
Over 10,000 students have participated in the contest since it started nine years ago.
The majority of participants were awarded shares in companies registered on Rwanda Stock Exchange (RSE) to instill the culture of saving.
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.
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.
{{ 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 is done through: https://investor.cma.rw/cmuc/login/index.php
Previous winners are not allowed to participate in the current edition. Individuals will compete either in Quiz and Essay categories after creating an account. 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.
For those to compete under the essay category, they will submit the final essays in the system through https://investor.cma.rw/cmuc/login/index.php. The title of the theme is “How does the capital market finance the socio-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.
Leave a Reply