31st March 2015
The Nairobi Securities Exchange (NSE) officially launched its 2015 NSE Investment Challenge at the Exchange building on 55 Westlands Road.
The NSE Investment Challenge is the Exchange’s flagship financial literacy initiative which was launched in April 2008 targeting to inculcate an investment culture among the youth in universities and other tertiary institutions of higher learning.
Speaking during the launch Mr. Geoffrey Odundo the Chief Executive Nairobi Securities Exchange said “The Exchange is committed to educating and informing the public on the Capital Markets as this in turn contributes to sustainable economic growth. The investment challenge gives the youth a safe, entertaining and affordable means of learning how to invest in our capital markets”.
“This initiative is aimed at ensuring that we have a future generation that is financial savvy and can make informed choices on their finances, encourage entrepreneurship and innovation all with the goal of driving the economic development and prosperity of this country” said the chief guest Mr. John Gachora, NIC Bank Group Managing Director.
This year we are slated to launch various products such as; Derivatives, Real Estate Investment Trusts (REITS) and Exchange Traded Funds (ETFs). We plan to incorporate these new products on the Investment Challenge electronic platform and expose our participants to these products. We are also looking to partner with other African Stock Exchanges like the Johannesburg Stock Exchange (JSE), to profile the companies listed on their Exchange and provide the winners of the Challenge with an opportunity to go for study tours to other Exchanges.
This year the winners will stand a chance of walking away with cash prizes worth Kshs.600, 000.00 following the generous contribution of the official sponsor NIC Securities while also receiving internship opportunities NSE and NIC Securities.
The Exchange is currently conducting countrywide registration drives in universities among other tertiary institutions; so far we have 5,263 students registered for the competition which will begin in May 2015.
NIC Securities is the official sponsor of the challenge.