The Young Investors Network (YIN) has launched the 2021 capital market and stock pitch competitions to, once again, enhance young people’s understanding of the financial market while they get rewarded.
In collaboration with the Ghana Stock Exchange (GSE), the UMB Investment Holdings & Stockbrokers, this year’s competition will spread its tentacles to all second-cycle institutions in Greater and tertiary institutions across the country.
The capital market quiz is targeted at the students in the senior high schools (SHS) while the stock market competition is targeted at tertiary students.
The Executive Director of the Young Investor Network (YIN), Mr Kofi Kyei Busia, said the stock pitch – as a combination of ideas of stocks listed on the exchange – will give an opportunity to the Network to train students on the stock market to enable them to sell what they think is the best listed.
He noted that due to the rigorous training that went into last year’s training, the predictions of the students who pitched the stocks were able to get it right, as that reflects the current trend of the exchange.
For instance, the student who had undergone the training predicted that MTN Ghana, which was at 0.65p was going to rise to beyond GH 1.00 and true to that, MTN Ghana is currently trading at GH¢1.20.
Mr Busia said capital market is the engine of the private sector.
He said the participation of students in the competition is not limited to a particular discipline of study in the tertiary institution. All students in the tertiary education are eligible to participate in the competition and stand a chance of winning amazing packages while gaining understanding in the operation of the stock market.
President of YIN, Joshua Mensah, speaking on the capital market quiz competition, which started in 2016, said the competition is aimed at equipping students to increase knowledge of the capital market at a tender age.
He said over the years, the programme has helped a lot of young people by giving them ideas and shaping their views of the capital market, and increasing the financial acumen of students, noting that young.
In his remarks, the Managing Director of the GSE, Mr Ekow Afedzie, said, “The two competitions are a great initiative which will educate and inform the youth of the offerings of the capital market and how it can shape their future.”
He added that the youth are the future of the market, and their participation is essential for its growth, noting that the YIN initiative aligns with the GSE’s financial literacy plan.
Mr Afedzie added that there was the need to support such initiatives, as they equip the youth with the necessary tools to understand and navigate through the market.
Speaking on behalf of the UMB Holdings and Stockbrokers, the Vice-President, Corporate Finance & Advisory, Mr Yaw Saifah, said apart from the business of managing funds and helping individuals and institutions attain their financial goals, the UMB is also keen on deepening financial inclusion and literacy in Ghana, as it helps in promoting savings and investment culture.
He noted that in the long run, the competitions would help in developing the Ghanaian capital market and promote the country’s economy, because individuals and entities would be saving and investing, making funds available for businesses.
The Young Investor Network (YIN) is a financial education organisation committed to educating the youth on financial literacy and business skills in Ghana and beyond and with investment programmes designed to support a favourable business climate.