The CAPITAL market challenge, which intended to build capacity among students in the higher learning institutions, has reached out to over 21,000 learners last year, making a total of 70,000 for the past five years.
The challenge, run by the Capital Market and Securities Authority (CMSA), has attracted an increased a number of participants after adopting Information and Communications Technology (ICT) tools, including mobile phones, websites and emails. This made students across the country participate in a quiz competition from anywhere by answering questions through their mobile phones online.
“The challenge is expected to build efficiency and excellency in the capital market and securities in the country,” CMSA Chief Executive Officer Nicodemus Mkama remarked on Thursday in Dar es Salaam at an award-giving ceremony for winners of the last year’s competition.
A total of 80 out of participated 21,338 students won the challenge, but the authority chose the top three winners for the awards.
The overall winner walked away with a cash prize of 1.8m/- and the first runner scooped 1.4m/- followed by the third winner who got 800,000/-. Mr Mkama encouraged students and other Tanzanians to invest in the capital market to raise their individual economies and boost the country’s economy.
Speaking at the ceremony, Mr Christopher Ngonyani, one of the beneficiaries of past competitions said the challenge enabled him to establish his company, known as ‘Young Investors Forum’.
The company brings together young people to discuss and find opportunities in the capital market and securities. Mr Ngonyani, who is a third-year student at the University of Dar es Salaam, thanked the government for initiating programmes that aimed at building capacity among students over capital market and securities in preparing them to become future investors.
The CMSA capital market challenge, for instance, provides an opportunity to students to have practical training in the institutions and companies dealing with the capital market and securities.