20th August 2024
Own Correspondent
The Botswana Stock Exchange(BSE) Stanbic Bank Senior Secondary Schools Finance and Investment Competition 2024 has been described as an initiative that exemplifies Botswana’s collective efforts to equip its young minds with the skills and knowledge necessary to navigate the complex landscape of the financial markets.
“These initiatives not only empower our students with the necessary financial acumen but also contribute to the broader goal of fostering a culture of investing and saving among Batswana. The stock market simulator is a remarkable tool that simulates a real trading environment, enabling prospective investors to learn about the intricacies of stock selection and performance tracking without the risks associated with real-world trading,” said Douglas Letsholathebe, Minister of Education and Skills Development.
He said, “This technology-driven platform provides a safe space for prospective investors to build virtual portfolios, test trading strategies, and gain invaluable insights into the dynamics of the stock market. Through this experience, our students can make informed decisions surrounding investments, which is a critical step in addressing the issue of financial literacy at a national level.”
The stock market simulator is a remarkable tool that simulates a real trading environment, enabling prospective investors to learn about the intricacies of stock selection and performance tracking without the risks associated with real-world trading.
This technology-driven platform provides a safe space for prospective investors to build virtual portfolios, test trading strategies, and gain invaluable insights into the dynamics of the stock market.
According to officials through this experience, students can make informed decisions surrounding investments, which is a critical step in addressing the issue of financial literacy at a national level.
“By supporting this initiative, Stanbic Bank has demonstrated a strong commitment to the development of our youth and the future of our nation. This partnership is a testament to the positive impact that can be achieved when businesses invest in the communities they serve,” said Letsholathebe.
With the advent of the 4th Industrial Revolution, characterized by the fusion of digital, biological, and physical systems, it is crucial that students foster a knowledge-based economy as our government promotes. This means equipping our citizens, especially the youth, with the skills and competencies required to thrive in an increasingly digital world.
This initiative not only rewards student efforts but also instills in them a sense of responsibility and ownership of their financial future. By giving students the tools and resources to make informed investment decisions, we are empowering them to take control of their financial destiny.
The teachers, mentors, and parents who have supported students throughout this competition have been praised by officials. Their guidance and encouragement allegedly played a crucial role in their success, and officials are grateful for their dedication to their education and development.
Thapelo Moribame, Head of Market Development, BSE said “The competition is only open to Senior secondary school students and involves 5 participating students working alongside an appointed teacher. Team members use one (1) trading account.”
She said, “Participating teams will be allocated P100 000.00 virtual funds to build their portfolios. Each week the BSE website/ Social media pages will feature portfolio standings displaying top 10 participating schools with the highest portfolio.”
Participants included 15 Government and Private Schools and a prize money of P55 000. The competition winners for 2024 were identified as follows:
- Position 1 Al Nur School
- Position 2 Lobatse Senior
- Position 3 Regent Hill
This competition, which has been a significant milestone in our journey towards enhancing financial literacy and promoting the culture of investing among the youth, embodies the very essence of what we at the Botswana Stock Exchange strive to achieve.
The Senior Secondary Schools Finance & Investment Competition, first introduced in 2013 as a Quiz, has been a beacon of educational innovation and an exemplar of our commitment to fostering a robust financial knowledge base among the younger generation.
In its original format, competition brought together students from secondary schools across Botswana to compete in Gaborone, where they tested their knowledge of finance, accounting, economics, business studies, and other related fields.
This initiative was more than just a contest; it was an opportunity for young minds to engage, learn, and develop a deeper understanding of the financial world that influences our everyday lives.
Botswana Stock Exchange(BSE) Vice Chair Professor Othata said “Today, I am proud to say that this competition has evolved and grown, thanks in large part to the introduction of the stock market simulator. This cutting-edge, technology driven platform has transformed the competition into a comprehensive educational tool that offers students a unique and immersive experience.”
He said, “Through this simulator, students are able to learn the key elements necessary for stock selection, understand how to track the performance of their holdings, and gain hands-on experience in a virtual trading environment.”
The competition not only enhances their understanding of the stock market but also provides them with valuable insights into the potential returns that investors can derive from our local capital markets.”
Notably, the impact of this platform goes beyond the competition itself. It serves as a powerful tool to educate the larger demographic about the benefits of investing in local listed securities, thereby addressing issues of financial literacy on a national level.
“By empowering our youth with the knowledge and skills to make informed financial decisions, we are laying the groundwork for a financially literate society, capable of contributing to the growth and development of our nation,” said Othata.
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