Students stand to win big in a major investment competition.
A local youth-owned non-profit organisation has partnered with the Johannesburg Stock Exchange (JSE) to encourage students how to become more financially savvy. Vuka Mngani which promotes information sharing and learning amongst the youth and students will run the JSE Investment Challenge which runs until September this year.
To be part of the challenge, students must register in teams of two to four on the JSE website. Each team is given a virtual portfolio worth R1million to start trading off based on the end-of-day prices as listed on the JSE. The team that grows their portfolio the most between June and September 2016 will walk away with the with the first place prize of R25 000 and an all-expenses paid trip to an international stock exchange. The second-place team will win R20 000 with R15 000 going to the third place.
“We want to encourage students to start investing in themselves through finances,” says Zaba Msimang, chairperson of Vuka Mngani.
University of Johannesburg (UJ) marketing student Kgomotso Lesito has registered for the competition and says it is an exciting opportunity for students. Her teammate, Patricia Limbane, says she is very motivated and that if they win, they will invest the prize money in their new businesses. The competition is open to all students and scholars from all high school and higher education institutions, says Msimang.
There are webinars (web-based seminars) on the JSE website and JSE booklets to assist students with trading because they want any student to enter the competition regardless of which qualification they have enrolled for, says Msimang. Idris Seedat, CSI manager at the JSE, says they hope that after students participate in the challenge, they will have a full understanding of the world of finance and particularly investing on the JSE. “With this understanding students will be better equipped to secure a financially free future,” says Seedat.
The closing date for the competition is April 12, 2016 with a registration cost of R150 per team.
Vuka Mngani will be at Wits on Friday, March 18, 2016 from 12 noon at the Rag Office to register students.