Uganda Securities Exchange (USE) has launched an initiative aimed at inculcating an investment culture among students in universities across the country.
Dubbed the USE University Challenge, the initiative seeks to give the youth a platform to trade and understand how to invest in shares and bonds listed on the bourse.
About 1,000 university students, with each getting Shs35, 000,000 worth of ‘virtual capital’ are expected to take part in the first of its kind trading and investment competition across the country. The student who will have the highest portfolio at the end of the three months’ competition will receive Shs10 million worth of shares or bonds to start investing.
Speaking during the launch, the USE CEO Paul Bwiso noted that the investment challenge will be central in raising awareness among the younger generation in investing on the stock market and how the students can create wealth through the exchange.
“This platform will be critical in demystifying what securities and trading is all about while giving an opportunity to students to learn how to make informed investment decisions early on in their lives,” said Mr. Bwiso.
He also noted that the virtual capital will be used to buy and sell virtual shares and corporate or government bonds listed on the Securities Exchange or invest in fixed deposits or swings.
“The USE Investment Challenge is our way of encouraging the youth to develop a culture of savings and investments by demonstrating in a practical way how to buy and sell securities listed on the Uganda Securities Exchange and as a result, create financial inclusion for the youth,” Mr. Bwiso said.
Catherine Gitonga, the Founder and CEO of Smart Youth Investments, said participants will have access to the USE real time information. “The online platform will be an assimilation of the real market,” Miss Gitonga said.
“This is an entry point for students to learn how to invest through the Uganda Securities Exchange,” Ms. Gitonga said of the challenge that is being sponsored by dfcu Bank, Stanbic Bank, NIC, Uganda Clays and Umeme.
