Old Mutual awards Scholar Investment Challenge winners

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Old Mutual and the Namibian Stock Exchange (NSX) have awarded the five top performers in the Namibian Scholar Investment Challenge (NSIC), which is aimed at introducing the youth to stock market investments and providing them with knowledge on capital market operations.

According to a media statement issued by Old Mutual on Wednesday, 162 teams from all 14 regions competed to trade listed shares on the NSX after obtaining a fictional N.dollars 500 000 each.

The Geals from Windhoek Gymnasium won the first prize of N.dollars 50 000 with a return of 30.8 per cent on their initial investment; followed by the University of Namibia’s (UNAM) Eagle Investors who were in second place with a return of 23.3 per cent. They received a cash prize of N.dollars 30 000.

Trading Masters were in third place with a return of 16.8 percent and a cash award of N.dollars 20 000; followed by Edu United in fourth place with a return of 10 per cent on their investment, who won N.dollars 10 000. NamWealth won N.dollars 5 000 for their return of 8.8 per cent on their investment.

Each team received a beginning pack containing basic information and a glossary of financial terms to enable them to trade. The participants were tasked with conducting research and using analytical abilities to make sound investment selections in order to increase the value of their portfolio at the end of the trading day.

Tassius Chigariro, Old Mutual Group Chief Executive Officer (CEO) was quoted in the statement as saying Old Mutual invests in helping children discover their talent before they reach their prime.

“The best gift a child can receive is assistance in discovering their talent. However, discovering talent alone is not sufficient; there are many people who discovered their talents but did not produce any fruit. When talent is discovered, it is like discovering a fruitful seed; it must be maintained; no matter how good the seed looks or how fertile it is, it will die if it is not planted in proper soil and water. To the talents identified today, I urge the parents, communities, and businesses present to develop this skill,” he stated.

NSX CEO, Tiaan Bazuin, said the competition has been running for the past 21 years with schools, while universities joined in the last couple of years. He said this year had some of the best returns the NSX has ever seen in the competition, with students really applying their minds.

Source: The Namibian Press Agency