The Old Mutual Foundation recently came together to celebrate its exceptional achievements in the 2023 Namibian Scholars’ Investment Challenge (NSIC) competition jointly presented by the Namibian Stock Exchange (NSX) and Future Media.
The NSIC, a platform for both 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$50000 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.
The Old Mutual Foundation 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, it is imperative for Old Mutual to help build capacity and skills for the Namibian youth,” stated 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, she added.
Tiaan Bazuin, NSX CEO noted, “The Investment challenge is the premier scholar’s competition in relation to 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.”
Christine Venter, Products & Campaign Manager at Future Media, emphasised the importance of Future Media’s involvement, stating, ‘Future Media is committed to the Namibian Scholars Investment Challenge and is pleased to have partnered with the NSX and Old Mutual Foundation on this initiative. We are delighted to leverage our radio platforms, particularly Nova 103.5, to promote this noble cause and equip the next generation with the knowledge and skills needed for a prosperous future.”
UNAM’s “Wallstreet” secured the coveted first place of N$ 50,000 with a return on investment of 60.6%.
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