NSX launches 2022 scholars investment challenge
The Namibian Stock Exchange (NSX) invited Grade 10-12 learners and registered university students in Namibia to take part in the 2022 edition of the annual Namibian Scholars’ Investment Challenge (NSIC).
The NSIC will see student teams given a fictitious amount of N$500,000 each to invest on the Namibian Stock Exchange from April to September 2022. The five top teams will be rewarded with cash prizes from Old Mutual, with the overall best performing team winning a grand prize of N$50,000.
“The NSIC 2021 was an exciting year with great returns reaped. We hope to see a positive year in the market, that more teams will participate and will outperform last year’s results,” said NSX Chief Executive Tiaan Bazuin.
The challenge is organised by the stock exchange in partnership with Old Mutual, Future Media and the Financial Literacy Initiative.
“The Namibian Scholar’ Investment Challenge is well positioned in providing our university and school students with an opportunity to better understand our capital market and how it operates. Thus, our investment of N$200 000 is intended to plant a seed that will help our youth discover their talent before their prime,” said Ashante Manetti, Old Mutual’s acting Marketing and Communications Executive.
Future Media Project Manager Christine Venter highlighted the importance of marketing the initiative to students, saying: “It’s important for students to learn how to manoeuvre the challenges and opportunities of the investment market. Hands-on experience like this competition will give them invaluable skills to thrive.”
The Financial Literacy Initiative (FLI) says their involvement in the NSIC helps to fulfil their mandate to enhance the financial education for individuals and Micro-, Small- and Medium enterprises. “FLI advocates the importance of providing the necessary information and skills to the NSIC participants to lay a long-term investment foundation.”