Windhoek, Feb. 27 – A few months ago, the Namibian Stock Exchange (NSX), in partnership with Old Mutual, Future Media and the Financial Literacy Initiative awarded N$138 000 to the five (5) winners and their respective schools at the 2022 Namibian Scholars Investment Challenge (NSIC).
The aim of the NSIC is to introduce university and secondary school students to share investments. Further, the NSIC provides students with knowledge on broader aspects of capital market operations, to give them an understanding of commercial dynamics and the macroeconomic environment through a fun and far-reaching educational programme.
This year, the search for the five winning teams is on. University and secondary school students can register to enter the competition between 1 to 25 March 2023. Participating teams will be credited a notional amount of N$500 000 to trade shares on the Namibian Stock Exchange through the challenge.
The NSIC is supported through the Old Mutual Foundation, which is Old Mutual’s corporate social investment vehicle. Mignon du Preez, the Group Marketing, Public Affairs and Sustainability Executive at Old Mutual Namibia, shared that “as a financial services provider with dual listings on the JSE and NSX, it is imperative for Old Mutual to help build capacity and skills for the Namibian youth. As a country, there is a need to address our socioeconomic challenges, poverty, unemployment, and financial exclusion. Although there is no single solution to address these challenges, the increased knowledge of the financial sector by the youth will better equip them for a financially literate future. Financial education enables the youth to achieve financial well-being, which helps them meet current and ongoing financial obligations and secure their financial future.”
Further, Christine Venter, the Projects Manager at Future Media says that “we live in a world where there is a wider range of investment tools and avenues than ever. Initiatives like the NSIC are invaluable in giving young Namibians exposure to the investment market and opening their minds to the possibilities that investing and trading can bring to their future. As a future-focused company, Future Media is proud to be aligned with this forward-thinking initiative that truly invests in the minds of young Namibians.”
In addition, Tiaan Bazuin, Chief Executive Officer of the NSX, confirmed that the Namibian Stock Exchange is committed to broadening financial literacy and explicitly giving our youth the tools to conquer the world of investment and personal finance.
University and secondary school students are encouraged to enter the challenge to position themselves in the financial market and gain hands-on experience to bridge the knowledge gap in a fun and innovative manner that puts them in direct contact with how the macro economy functions.
