The Nairobi Securities Exchange (NSE) today launched its 2015 NSE Investment Challenge, its flagship financial literacy initiative started in April 2008. It aims at inculcates an investment culture among the youth in universities and other tertiary institutions.
Mr Geoffrey Odundo, the Chief Executive Nairobi Securities Exchange, said the NSE is committed to educating and informing the public on the capital markets to contribute to sustainable economic growth. “The investment challenge gives the youth a safe, entertaining and affordable means of learning how to invest in our capital markets,” he said.
This initiative empowers a future generation that is financial savvy and can make informed choices on their finances, encourage entrepreneurship and innovation all with the goal of driving the economic development and prosperity of this country, said NIC Bank Group Managing Director Mr John Gachora who was the chief guest.
The Exchange is slated to launch various products such as Derivatives, Real Estate Investment Trusts (REITS) and Exchange Traded Funds (ETFs), this year. These products will be incorporated on the Investment Challenge electronic platform.
The NSE is also looking to partner with other African Stock Exchanges such as the Johannesburg Stock Exchange (JSE), to profile the companies listed on their Exchange and provide the winners of the Challenge with an opportunity for study tours to other bourses.
This year the winners stand a chance to walk away with cash prizes worth Ksh600,000, contributed by the official sponsor NIC Securities. The winners will receive internship opportunities at the NSE and NIC Securities.
The Exchange is currently carrying out countrywide registration in universities and other tertiary institutions and so far 5,263 students have registered for the competition which begins in May 2015.
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