In a bid to encourage more participation of the youth in the capital market, the maiden UMB Investment Holdings Limited ‘Young Investor Challenge’ has been launched in Accra.
The challenge is aimed at developing the interest of students at the tertiary level, by training them to understand the capital market operations in the country.
Participating students have already undergone a one month training session, which started in October 2018, with UMB stockbrokers and Young Investor Network (YIN).
Participating students are from tertiary institutions in the country namely; Accra Technical University, University Of Ghana, Legon, University Of Professional Studies, Accra, Pentecost University And Methodist University.
In an interview, the president of YIN, Joshua Mensah said that, the Challenge has a dummy fund of GHC 50,000 for each of the schools, to start trading on the dummy stock exchange for 4 months.
“In March 2019, when the challenge comes to an end, the best school that will be able to perform very well in trading, thus, analysis of their stock trading and the strategies used to increases capital. So, the school that is able to increase its investing capital, will win the Challenge,” Mensah said.
Head of Policy Research and IT with the Securities and Exchange Commission (SEC), Emmanuel Ashong-Katai, urged students to learn the regulations regarding trading on the stock exchange so as to shore up the habit of investment.
According to him, “optimal knowledge of investment avenues in the country reduces the rate of people falling victim to Ponzi schemes in the country.”
At the end winners will be given funded investment account, participation certificates, and internship opportunities.
Young Investor Network (YIN) is a financial educational organization with a firm commitment in educating the youth on Financial Literacy and Leadership skills in Ghana and beyond, on investment programs that support a favourable business climate.
By Joshua W. Amlanu