Uganda Securities Exchange (USE) has Wednesday launched the USE University Challenge in a bid to inculcate an investment culture among students in universities across the country.
The challenge seeks to give the youth a platform to trade and understand how to invest in shares and bonds listed on the bourse. About 1,000 university students are expected to take part in the first of its kind trading and investment competition across the country.
The Challenge will be an annual event targeting students in institutions of higher learning.
Each participating student will get an online account with virtual startup capital of Ush 35,000,000 to trade with using real-time data of shares and bonds prices streamed from the USE for the duration of 2 months, during the competition period.
Apart from trading, one can use the virtual platform to view the value of their stock portfolio, borrow money, participate in discussion forums and send inquiries to mentors for tips.
Speaking during the launch, the USE CEO Paul Bwiso noted that the investment challenge will be central in raising awareness among the younger generation on investing in the stock market and how the students can create wealth though the exchange.
“This platform will be critical in demystifying what securities and trading is all about while giving an opportunity to students to learn how to make informed investment decisions early on in their lives,” said Paul Bwiso.
The Challenge will see each participating student get Ush 35 million worth of virtual capital which they will use to invest. The virtual capital according to Bwiso will be used to buy and sell virtual shares and corporate or government bonds listed on the Securities Exchange or invest in fixed deposits or swings.
“The USE Investment Challenge is our way of encouraging the youth to develop a culture of savings and investments by demonstrating in a practical way how to buy and sell securities listed on the Uganda Securities Exchange and as a result, create financial inclusion for the youth” Bwiso added.
Participants will have access to the USE real time information “The online platform will be an assimilation of the real market,”
According to Catherine Gitonga, the Founder & CEO of Smart Youth Investments, the student that will have the highest portfolio at the end of the three months’ competition will receive Ush 10 million worth of shares or bonds to start investing.
“This is an entry point for students to learn how to invest through the Uganda Securities Exchange,” added Gitonga.
DFCU Bank, Stanbic Bank, NIC, Uganda Clays and Umeme are among sponsors of the Challenge.
