Malvern Nkomo
Business Reporter
The second edition of the Capital Markets High Schools Quiz commences today with 20 schools from the country’s 10 provinces set to compete.
Organised and hosted by our sister publication, Business Weekly in partnership with London-based Financial Markets Indaba (FMI), the competition is made up of four pools, with the first set of two expected to take part today while the other set participates tomorrow.
The winner from each pool will compete in the finals next week on Friday.
The competition will be held at the Management Training Bureau in Harare.
The quiz competition is designed to enhance and foster the student’s knowledge and financial literacy while promoting savings culture at an early stage.
Participating in this year’s edition in pool A are Errymaple International School, Bernard Mizeki, Zengeza 1, Kriste Mambo, and Oriel Girls.
Pool B consists of St John Emerald Hill, Msengezi, Cheunje, Dominican Convent (Bulawayo) and Marist Nyanga.
Harare High School, Jameson, Midlands Christian College, Falcon College, and Marymount Mission represent pool C
The competing schools in pool D are Irene Christian College, St Alberts, Silveira, St Dominic’s Chishawasha, and Cygnet Private College.
Dominican Convent High School-Bulawayo won the tightly contested inaugural 2022 quiz competition and will be out to defend the title in this year’s edition.
In an interview, Financial Markets Indaba managing director Mr Patrick Muzondo said: “The Capital Markets High Schools Quiz competition offers a unique and exciting way to motivate, inspire, encourage and reward secondary and high school scholars in their quest for knowledge and provide them with the opportunity to celebrate their achievement as part of a high profile, national competition. The quiz fosters a generation that is conscious of the importance of savings, financial literacy, and capital markets.
“Capital and financial markets play a crucial role in our global economy and are integral to the world of finance. While the world of stocks, trading, and investments may seem complex, it’s essential for high school students to grasp the basics of these markets.
“This knowledge will not only help them make informed financial decisions but also prepare them for the future. By gaining a basic understanding of these markets, high school students can make informed decisions about their money, and navigate the complexities of the global economy. By starting their financial education now, they will be better prepared for the opportunities and challenges that lie ahead.”
Business Weekly Editor Herbert Zharare said the Capital Markets High Schools Quiz was postponed to pave the way for the national harmonized elections.
“The Capital Markets High School Quiz competition that was postponed to pave the way for national harmonized elections, starts today at the Management Training Bureau. Some of the teachers were assigned roles in the crucial national election. We are glad they are back hence the resumption of the event.
“Working with our partner Financial Markets Indaba, we remain resolute to help facilitate the battle of minds for these youngsters as we try to catch them young so that they develop an interest in this critical sector of our economy.
“It is our hope that as we continue hosting this event, which fortunately has the gracing of the Ministry of Primary and Secondary Education, Capital Markets shall be granted subject status and be examinable. We want to express our gratitude to valued sponsors who continue to loosen their purse strings to ensure that the event is a success. Our doors remain open for more sponsorship.”
The sponsors for the 2023 quiz competition include Old Mutual and Buttercup Margarine, the headline sponsors, POSB, Millano Office Chairs, Glass Creations, Tika Shoes, Tigere, AFC Holdings, Chicken Inn and C-Trade.
Securities and Exchange Commission of Zimbabwe (Investor education director), Ms Farai Mpofu said the quiz competition provided a constructive and entertaining platform for learners.
“Learners are key stakeholders for SECZim, and the quiz provides a well-packed method of engaging with young people in a constructive and entertaining way which, promotes sustainable investments. The commission’s Investment 101 Handbook and other capital market content provide the core quiz materials.
According to the 2022 Finmark Consumer Survey, the portion of the population with investments in capital markets is just 2 percent. Under the National Financial Inclusion Strategy 2022-2026, the target is to reach 5 percent.
“Financial inclusion initiatives through stakeholder outreach were formerly viewed as commission’s issues whereas now securities market intermediaries (SMIs) have understood their strategic role in capital market development through stakeholder engagement. As a result, three SMIs are sponsors of the 2023 edition of the quiz namely Old Mutual, Tigere Property Fund, and C-Trade. Under the oversight of SECZim, SMIs will continue to innovate around the access – usage – cost trio to deliver sustainable investment products,” said Ms Mpofu.