The team of Michael and Joseph from Kenyatta University were
announced the overall winners of the year’s Nairobi Securities Exchange Investment
Challenge at an award ceremony graced by Assistant Minister for Youth and
Sports Hon. Kabando wa Kabando on Wednesday.
The competition, which ran from June to August, gave
participants Sh2 million in virtual investment capital and real time market
information with which to make trades. The winners were then selected by a panel
based on the value of their portfolio at the end of the challenge, level of research,
and participation in the provided discussion forums.
Speaking at the award ceremony, Director
of the NSE, Jonathan Ciano said; “The
NSE Investment Challenge is the flagship Corporate Social Responsibility
initiative of the Nairobi Securities Exchange. We believe that it is our duty
as a financial institution to help create a more knowledgeable society by
increasing both access and understanding of securities markets information.”
Other top contenders included Kelvin Kiplagat, a law student
at Moi University, who posted the highest profit of Sh1 million to hold a
portfolio of Sh3 million when the competition came to a close. Lack of enough research
and participation in discussion forums were the biggest undoing for Kiplagat
who many thought would win the coveted award.
The overall winners pocketed Sh200,000 in cash to be
invested at the Bourse, while the runners-up and second runners-up walked away
with Sh75,000 and Sh25,000 respectively.
This year’s award attracted 5,621 participants from 172
institutions some coming from as far the United States and Europe.
NSE Investment Challenge is an initiative of the NSE and
Smart Youth Investment Ltd with NIC Securities and Centum Limited serving as
its main sponsors.
For more on the NSE Investment Challenge and how to
participate visit http://www.nse.co.ke/public-education/nse-investment-challenge.html
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