AfricaPress-Tanzania: Secondary school and college students have an opportunity to participate in a virtual stock trading competition to learn the basics of stock market operations.
The virtual education challenge launched in Dar es Salaam on Tuesday is supported by Azania Bank and Dar es Salaam Stock Exchange under DSE Scholar Investment Challenge (SIC).
The students who are going to participate in the challenge will be given an initial virtual capital of 3.0m/- to enable them to do the simulated investment and trading, according to a statement from Azania Bank.
The main objective of the DSE Scholar Investment Challenge Initiative is to impart knowledge of the investment in the capital markets and hence create a culture of saving and investment among the youth.
The challenge gives the students an opportunity to practically participate in buying and selling of bonds and shares. They are required to grow their portfolio value by making profit from the virtual money provided. At the end, the students with highest portfolio values will win prizes.
DSE’s Chief Legal Counsel, Mary Mniwasa said the stock market organises the virtual challenge for students every year since 2014 to enhance financial management and entrepreneurial skills among the youth and create a sense of ownership, loyalty and association with peers by reaching out to them and creating collective savings and investments.
“We have been running this challenge for some time now, and it has been a success venture. It brings together youth, especially those in universities and secondary schools to build their capacity in financial education and investment,” she said.
The Managing Director for Azania Bank, Charles Itembe said they were looking at the challenge as one of the opportunities for the youth, particularly those in higher institutions of learning to enhance their understanding on finance and financial markets and how stock markets operate.
“Azania Bank sees this as an opportunity in participating to link the youth with the labour market while enhancing their capacity, stimulate their creativity and enhance their employability skills,” he said.