The management of the Dar es Salaam Stock Exchange (DSE) want to change. One way is by nurturing young people into taking an interest in capatial markets.
Today, the DSE has a market capitalisation of about
$12 billion.
DSE Chief Executive Officer, Moremi Marwa was recently speaking to East African Business Week in Dar es Salaam after announcing the top three winners of the 2014 Scholar Investment Challenge.
Sokoine University of Agriculture student, Dyanko Laurent took the top prize of Tsh 1 million (nearly $600). Second was George Firmin of the Institute of Finance Management who won Tsh600,000 ($350). Godlove Kellya from the University of Dar es Salaam took home Tsh400,00 ($230).
Marwa said the DSE plans to educate not only university students, but the general public about the importance saving and investment through capital markets.
“This is an initiative to encourage the youth to develop the culture of saving and investment by demonstrating how to buy and sell securities at the stock exchange,” he said.
Marwa said the competition is a yearly edutainment campaign targeting Tanzanian youth in higher learning institutions.
He reassured Tanzanians DSE will continue with the program as part of its efforts to educate the public about capital markets and investing in the stock exchange.
Marwa said the Challenge is mobile-based. Students can participate through an access code number on their mobile phones *150*36.
He said for a period of three months, participants were given access to the DSE real time information and virtual start-up capital of Tsh1million (about $1000) to invest in securities listed on the DSE.
“It is an online simulation of live trading at the DSE, where each participating group or individual is given a virtual start-up capital to invest using the DSE real time information for a period of three months,” he said.
Marwa underscored that the main objective of the campaign is to educate and encourage young people in how to buy and sell securities on the DSE.
He said capital market trends in Tanzania can be better. Currently, about 200,000 Tanzanians have bought company securities from 18 companies listed on the DSE since its establishment 1998.
Marwa said this was the reason why the public had to be educated about the role of the stock market.
The main objective of the investment challenge is to transform trading in financial markets into accessible and enjoyable collaborative learning experience.
College students across the country, have been enabled to simulate the unique intensity and excitement of live-office based trading in brokerage houses and the stock market into their learning environment.
According DSE officials students ,acting singularly or working in teams, have an opportunity to visually invest in 12 companies out of 18 listed on the stock exchange. They also get regular reports as they are distributed through various media outlets.
During the Challenge, participants learned about share prices, indices and other data where information on the stock exchange is affected by various other factors impinging on the fundamental performance of listed companies.
The students were also taken through their paces in showing newly acquired knowledge.
They had to show how to improve their business, finance and economic understanding and develop key mathematical techniques and applications in a collaborative and time pressured environment.
The Challenge was set to provide a platform to developing or demonstrating and understanding of business and finance while also helping students to develop their personal learning, thinking and functional skills.
National Microfinance Bank (NMB) and Financial Sector Deepening Trust (FSDT) financially supported and provided technica know-how.
This year’s Challenge, which started in April, attracted about 5000 entries.
source: buzweek
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