By Azania Post Reporter
THE level of stock market awareness among students in higher learning institutions in Tanzania has increased tremendously in recent years as compared to past, the industry regulator has said.
Speaking to Azania Post in an exclusive interview, the Principal Public Relations Officer at Capital Markets and Securities Authority (CMSA), Charles Shirima, said an increase is a result of many efforts including a campaign launched two years ago.
“There was a good and positive response on the awareness campaign in higher learning institutions since the students were willing to receive the education that we intended for them to be aware of”, he said.
He said they introduced a University Challenge for the year 2015/16 which saw a slight number of participant. Similar challenge was conducted last year , where the number of participants increased twice.
“In year 2015 /16 we targeted to reach 2,000 students where as 7,501 of them took part in the campaign,” he noted.
Shirima explained that during the year 2016/17 the number staggered to 7,791 students from some higher learning institutions in Tanzania.
The Deputy Minister for Finance and Planning Dr. Ashantu Kijaji (centre) with the first winners of the Capital markets University Challenge 2016 Quiz
The capital markets university challenge is a competition that is open to undergraduate scholars in universities and other higher learning institutions in Tanzania and that is being run by CMSA.
Objectives of the Capital Markets University Challenge to create awareness and enhance knowledge about capital markets and commodity exchanges among the scholars in the universities and other higher learning institutions;
To increase participation in the securities markets by encouraging a culture of savings and investments, to broaden the country’s securities markets investor base by creating awareness among students and other potential investors;
Others are to leverage on technology in reaching out to scholars in universities and other higher learning institutions countrywide using technology including mobile phone which is considered to be an effective medium of communication.
According to CMSA official , it is the interest of the authority to have a vibrant market, which performs its rightful role as an engine of economic growth. He said giving an opportunity to young generation to understand the business will help to create committed and focused investors in future