Wallstreet wins investment challenge
OMF applauds outstanding student investment achievers
The Old Mutual Foundation (OMF) honours the exceptional achievements of the teams who have illuminated the investment landscape at the 2023 Namibian Scholars' Investment Challenge (NSIC).At the 2023 NSIC Awards Ceremony, the Old Mutual Foundation celebrated their exceptional achievements in a competition jointly presented by the Namibian Stock Exchange (NSX) and Future Media.
The NSIC, a platform for university and secondary school students to apply their investment skills, witnessed enthusiastic participation, creativity, and innovation. As these talented students navigated the intricacies of the stock market, their excellence was evident, and the future of Namibia's financial landscape appeared brighter than ever.
UNAM's "Wallstreet" secured the coveted first place of N$50 000 with a return on investment of 60.6%, demonstrating remarkable dedication and expertise in investment. "Twenty-Two," also from UNAM, clinched second place, a substantial N$30 000 with a return on investment of 24.6%, through their strategic approach to share investments.
NUST's "Rich Young Minds 2023" claimed third place, winning N$20 000 with a return on investment of 20.1%, exhibiting intelligence and creative investment strategies that stood out in the competition.
From NUST, "Oyetu" emerged as the fourth-place winner with a return on investment of 18.4%, receiving N$10 000 for their resilience and adaptability in the world of investments.
"Buffeteirs" from UNAM completed the top five with a return on investment of 16.7%, securing fifth place and winning N$5 000. Their dedication and innovative investment approaches were truly commendable.
OMF recognises the critical role of financial literacy in securing the future of Namibia's youth. "As a financial services provider with dual listings on the JSE and NSX, Old Mutual must help build capacity and skills for the Namibian youth," said Mignon du Preez, Marketing, Public Affairs, and Sustainability Executive at Old Mutual Namibia. "Financial education empowers the youth to achieve financial well-being, enabling them to meet their current and future financial obligations."
Initiatives like the NSIC, supported by the Old Mutual Foundation, are essential in expanding financial literacy among young Namibians. It's a testament to our commitment to nurturing and developing the financial capabilities of the nation's youth.
Tiaan Bazuin, NSX CEO noted that “the Investment challenge is the premier scholar's competition about investments and is a great introduction to investment management, whether for personal retirement planning or as an entry into the capital markets as a career. We have seen many alumni from the competition enter the job market and achieve great success. This shows me the challenge shall go on from strength to strength and bring more talent to the fore.”
The NSIC is more than a competition; it's an educational journey. The winners have not only showcased their potential in the world of investment but have also taken a significant step toward financial literacy. These students are the future leaders and decision-makers in the financial world, and we applaud their dedication.