Drive set to boost students' knowledge of capital markets

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The Capital Markets and Securities Authority (CMSA)

 The Capital Markets and Securities Authority (CMSA) has embarked on a new initiative to attract more stakeholders to participate in Capital and Securities markets and in particular, students in higher learning institutions.

 

Making the announcement earlier this week in Dar es Salaam when launching the Capital Market Universities and other Higher Learning Institutions Challenge (CMUOHLIC), CMSA’s Chief Executive Officer, Nasama Massinda said the goal is an increased number of market professionals to match the anticipated increased activities in the capital markets.

 

“Members of the authority and management of CMSA are committed to ensure set up of a conducive environment for sustainable capital markets is in place in Tanzania,” she said.

 

According to her, it is in the interest of the authority and that of stakeholders to have a vibrant capital market which performs its rightful role as an engine of economic growth.

 

She underscored that promotion and development of the capital markets industry in Tanzania and protecting investors’ interest are the statutory functions of the authority. 

 

“Both of which are achieved through raising awareness of investors, market players and the public at large,” she said.

 

To increase awareness on the part of students, CMSA has launched an inter universities challenge open to all students in Tanzania mainland and Zanzibar. 

The competition will run from 1st June to 15th July 2015 aimed at primarily increasing financial literacy among the students by testing their knowledge and understanding of issues related to capital markets.

 

The comprehensive university challenge awareness programme will be in the form of quiz competitions and essays on capital market topics.

 

The overall winners in the categories of Quiz and Essay Competitions will receive 1.8m/- each, the overall first runners-up in both categories will receive 900,000/- each.

 

The best female and male students, in both categories of the competitions from the best 3 universities making a total of 12 students, will visit the Financial Services Board, the Johannesburg Stock Exchange and other capital markets players in South Africa for a period of one week.

 

Students applauded the authority for launching the competition to improve their knowledge on capital markets.

 

The event was attended by students from University of Dar es Salaam (UDSM business school), Institute of Finance Management (IFM), College of Business Education (CBE) and Tanzania Institute of Accountancy (TIA), stock brokers and members of the press.

 

The Capital Markets and Securities Authority is a government agency established to promote and regulate securities business in the country. It was established under Capital Markets and Securities Act, 1994

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Thursday, June 4, 2015