On
the 23rd of March the Namibian Stock Exchange launched the Namibian
Scholars Investment Challenge ‘06. This is the ninth consecutive year that this
Challenge is being hosted by the NSX with an overall objective to encourage
awareness of the workings of the Namibian capital market amongst our youth. The Challenge will run over a period of
six months and will culminate in a grand prize giving ceremony at the end of
September.
From
the 20th February to the 01st March the Namibian Stock
Exchange undertook a trip to the Southern and Coastal towns of Namibia aimed at
informing scholars about the Namibian Stock Exchange (NSX) and the Challenge
(NSIC ‘06) similar in nature to the Northern trip last year. Namibia Breweries,
the main sponsors of NSIC, joined the NSX in the very successful road-show
during which 20 schools were visited.
The record
amount of 102 entries received to date this year, as opposed to just over 60
entries last year, is testimony to the increased level of information concerning
the NSX and the competition’s prize winners last year and that information sent
to the schools in the run up to launch of the NSIC ’06.
Secondary
school Scholars from all over the country and those at school in schools in
neighbouring country (provided all are Namibians) will participate in teams of
four with a dedicated teacher. Each
team will be allocated a nominal N$ 200
000 to
trade with (buy and sell) in shares listed on the NSX.
Participating
schools and their teams have been issued with a CD containing a manual of the
rules and regulations of this Challenge and how to trade as well as some other
helpful publications. Scholars are
allocated a dedicated broker with whom they can consult as and when
required. Daily trading prices will
be sent to each team via email and SMS communication made available by our local
cellular operator.
A number of
Namibian businesses once again sponsoring the cash prizes being awarded to the
winning schools. These sponsors and
prize money, which is shared between the team members and the School, is as
follows:
·
1st
prize - Legal Shield – N$ 15000
·
2nd
prize - Irwin, Jacobs, Greene – N$ 7500
·
3rd
prize - Irwin, Jacobs, Greene – N$ 4000
·
A number of
small prizes thanks to Alexander Forbes.
The NSX
is
grateful toward Namibia Breweries, the main sponsors and Namdeb who
recently joined our group of sponsors.
For
further information, please contact:
NSX – Loide Nakanduungile on 061 227647