Maseno University students are the winners of this year’s Nairobi Securities Exchange Investment Challenge.
The three – Mangila Kombe, Leonard Muombi and Kennedy Macharia – beat 7,306 other contestants at the challenge, which involved simulation of trading in securities (bonds & stocks) listed at the Nairobi Securities Exchange (NSE).
They were considered by a panel of judges to have made the most sound investment decisions, the highest portfolio value and to have contributed in the online discussion forums. Each was awarded Sh100,000 to invest at the NSE.
Albert Kyalo of Egerton University came second in the competition, while Joseph Mwangi and Muthenya Peter of Maseno University tied in third position. The participants were given Sh3 million virtual start-up capital to trade using NSE real time prices for three months. The challenge is part of NSE’s efforts to promote financial literacy among learners.
Mr Edward Njoroge, NSE Chairman said: “The NSE believes that an informed investor is an empowered investor. It is therefore our duty as the Exchange to foster an understanding of Capital Markets as this in turn contributes to sustainable economic growth.”
The contestants who took part in this year’s challenge increased by 14% from last year’s 6,419 students, an indicator that youth have a yearning for knowledge about Capital Markets, according to the NSE chief.
They were drawn from Kenya, Uganda, Tanzania, South Sudan and Rwanda. The chief guest, Eng. Peter Mangiti, Principal Secretary for Ministry of Planning, said the challenge was in line with the Social Pillar of Kenya Vision 2030, “as it seeks to improve the quality of life among the youth by providing financial literacy which improves their financial decision making.”