Staff Reporter
Windhoek, November 2 – The Old Mutual Foundation proudly celebrates the remarkable accomplishments of the standout teams that have illuminated the investment landscape during the 2023 Namibian Scholars’ Investment Challenge (NSIC). The Old Mutual Foundation, in collaboration with the Namibian Stock Exchange (NSX) and Future Media, recently hosted the 2023 NSIC Awards Ceremony to recognize and honour the exceptional achievements of these young talents.
The NSIC serves as a platform for both university and secondary school students to apply their investment skills, fostering an environment of enthusiasm, creativity, and innovation. The competition witnessed impressive participation, showcasing the exceptional talents of the students as they navigated the complexities of the stock market, leaving a promising imprint on Namibia’s financial future.
Taking home the coveted first place prize of N$50,000 with a remarkable return on investment of 60.6%, UNAM’s “Wallstreet” exhibited outstanding dedication and expertise in investment. UNAM’s “Twenty-Two” secured second place, earning a substantial N$30,000 with a return on investment of 24.6%, thanks to its strategic approach to share investments.
NUST’s “Rich Young Minds 2023” secured the third position, winning N$20,000 with a return on investment of 20.1%, impressing all with their intelligence and innovative investment strategies.
From NUST, “Oyetu” claimed fourth place with a return on investment of 18.4%, earning N$10,000 for their resilience and adaptability in the competitive world of investments.
UNAM’s “Buffeteirs” sealed the fifth place, achieving a return on investment of 16.7% and securing N$5,000. Their unwavering dedication and innovative investment approaches were commendable.
The Old Mutual Foundation recognizes the pivotal role of financial literacy in securing the future of Namibia’s youth. “As a financial services provider with dual listings on the JSE and NSX, Old Mutual must help build capacity and skills for the Namibian youth,” stated Mignon du Preez, Marketing, Public Affairs, and Sustainability Executive at Old Mutual Namibia. “Financial education empowers the youth to achieve financial well-being, enabling them to meet their current and future financial obligations.”
Initiatives like the NSIC, supported by the Old Mutual Foundation, play a crucial role in enhancing financial literacy among young Namibians, underscoring the commitment to nurturing and developing the financial capabilities of the nation’s youth.
Tiaan Bazuin, NSX CEO, expressed the competition’s significance, saying, “The Investment challenge is the premier scholar’s competition concerning investments and is a great introduction to investment management, whether for personal retirement planning or as an entry into the capital markets as a career. We have seen many alumni from the competition enter the job market and achieve great success. This shows me the challenge shall go on from strength to strength and bring more talent to the fore.”
Christine Venter, Products & Campaign Manager at Future Media, emphasized the importance of Future Media’s involvement, stating, “Future Media is committed to the Namibian Scholars Investment Challenge and is pleased to have partnered with the NSX and Old Mutual Foundation on this initiative. We are delighted to leverage our radio platforms, particularly Nova 103.5, to promote this noble cause and equip the next generation with the knowledge and skills needed for a prosperous future.”
The NSIC serves not only as a competition but as an educational journey. The winners have not only showcased their potential in the world of investment but have also taken a significant step toward financial literacy. These students represent the future leaders and decision-makers in the financial world, and their dedication deserves applause and recognition.
