DAR ES SALAAM: THE Dar es Salaam Stock Exchange (DSE) has launched an initiative aimed at enhancing investment literacy among students in higher learning institutions, as part of its efforts to increase the number of investors in the capital markets.
Current data from the stock exchange reveals that only 610,000 Tanzanians out of a population of 62 million have invested in the sector, highlighting the need for more initiatives to boost investor participation.
DSE’s Chief Executive Officer, Mr Peter Nalitolela, stated that limited knowledge about capital markets is one of the factors contributing to the low participation rate.
“As a country, we have been slow to enter the investment in stock and capital markets. This area remains promising. By starting with university students, we are preparing them to become both investors and employees through the education they receive,” he remarked recently at the conclusion of the DSE Scholar Investment Challenge.
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The 10-month challenge, which ran from December last year to August this year, involved a total of 816 students from three universities, the University of Dar es Salaam (UDSM), the Institute of Finance Management (IFM) and the College of Business Education (CBE).
The selection of these institutions aimed to shift the focus from a broader pool of universities to those with the potential to cultivate not only investors but also stock market experts.
IFM student Mr Haji Hamduni, the first-place winner, expressed that his goal was to learn about the stock market, and his victory exceeded his expectations.
“The competition incorporated all the market criteria and I gained substantial market knowledge from its design, which helped me understand the real stock market better,” he said.
The challenge allowed participants to trade with virtual money, starting with a capital of 3m/- and profiting from their trading differences.