The Capital Markets Authority (CMA) today launched a capital markets university challenge dubbed the Nairobi County Capital Markets University Challenge. The competition on capital markets issues will take place from 19 October, 2015 to February 2016 and targets all universities with campuses within Nairobi County and its environs.
Speaking during the launch, Capital Markets Authority Acting Chief Executive, Mr. Paul Muthaura said, ‘enhancing consumer education and literacy is highlighted as one of the critical pillars that will support the development of economic transformation under the Capital Markets Master Plan which is the comprehensive plan charting the strategic positioning and future direction of the Kenyan capital markets over the next 10 years’.
In order to participate in the Challenge, students have to be continuing undergraduate students in one of the 19 participating universities for the entire duration of the competition. Further, they should hold a valid national Identity Card and register with their University.
Mr. Muthaura added that participation in the Nairobi County Capital Markets University Challenge is open to students from all faculties in the participating universities and not limited to Finance, Economics or Business students. The Nairobi County Capital Markets University Challenge will see students compete for a grand prize of Kshs 150,000 to invest in a portfolio of shares listed on the Nairobi Securities Exchange and a trip to visit a competitive Stock Exchange and capital markets regulator within the African continent for a period of 3 days.
The University that produces the grand prize winner will receive capital markets related books for their library worth Kshs 75,000. The first and second runners-up will receive Kshs 100,000 and Kshs 50,000 respectively to invest in of a portfolio of shares listed on the NSE and also visit a competitive Stock exchange and a capital markets regulator within the African continent for a period of 3 days.
The Challenge will take place in four stages. ‘Stage one of the Challenge involves an exam with multiple choice questions set by the Authority. The exam will be administered to all students who have registered for the competition in the 19 Universities. The examination will identify the top 12 students from each participating University.’ Mr Wycliffe Oluoch a lecturer from Egerton University, one of the Committee members tasked to work alongside the Authority on the Challenge noted.
During the second stage, each of the 12 students will be given a capital markets related topic and will prepare a presentation for discussion. This second stage seeks to select the top two students from each university, who will then participate in the inter university semi-final and grand Finale stages, where they will field questions from panelists and present to the public on select topics respectively.
The 19 participating universities as at October 9th, 2015 are St. Paul’s University, Multimedia University, University Of Nairobi, Daystar University, Presbyterian University, Kenya Methodist University, Moi University, Strathmore University, KCA University, Gretsa University, Riara University, Machakos University, Egerton University, Technical University of Kenya University, Jomo Kenyatta University of Agriculture and Technology, Dedan Kimathi University, Kenyatta University, Kabarak University and United States International University.