The Capital Markets Association of Zambia signed a Memorandum of Understanding with the University of Lusaka to run this year’s essay writing competition. This is an annual initiative to commemorate World Investor Week which aims at increasing capital market awareness among the general public.
Speaking during the signing ceremony the President for the Capital Markets Association of Zambia, Mr. Nicholas Kabaso, stated that the signing ceremony was a testimony of the commitment from market practitioners to work alongside learning institutions to help provide the required knowledge and skills for the market.
He further stated that this annual initiative provides a unique opportunity for the students to be part of a thrilling market campaign to drive financial literacy and inclusion. “We hope that this initiative will aide in enhancing investor education and protection in an effort to bridge the gap in classroom learning, with practical knowledge for long term personal financial planning and smart investing.”
He also acknowledged that there is still a lot of work required to unlock savings for capital market development. A key enabler in this regard is finding the right financial inclusion strategies that are aimed at complementing the buildup of pension and other long term assets, allowing savings to be invested in a wide range of capital market products.
The essay competition for 2020 is themed ‘How can investing in the capital market help create a better future for all?’
“I have no doubt that this initiative will help us continue to develop a culture of wealth creation amongst the youth towards building a financially savvy generation” He said.
The Deputy Vice Chancellor at the University of Lusaka, Dr Chipasha Mulenga, bemoaned the lack of increased knowledge among the general public which has severely reflected in the low capital market participation. He therefore, hopes that through this essay writing competition we can increase the level of education and awareness among the general public. He thanked CMAZ for leading on such critical initiatives and pledged the University’s support to reach out to a greater number of people especially students.
Mrs. Cecilia Sichambwali