CBE AND DSE COLLABORATION
The College of Business Education (CBE) has entered into an agreement with the Dar es Salaam Stock Exchange (DSE) to provide practical training to its students by equipping them with capital market and employment strategies to enable them to self-employ and gain employment after graduation.
The students will receive this training through the Dar es Salaam Stock Exchange (DSE) Scholar Investment Challenge, where they will be mentored in buying and selling shares using virtual money.
Speaking at the launch, the Acting Rector of the College, Professor Tandi Lwoga, stated that this initiative followed significant curriculum revisions in the institution, making investment and finance studies compulsory.
"Last year, we conducted a feasibility study and enhanced financial education and investment in the curriculum we teach, and this compulsory subject has begun to be taught from certificate to degree level. Therefore, the existence of this competition will enable students to learn practically after theory in class," said Professor Lwoga.
She mentioned that this was done to keep up with the ever-evolving changes in science and technology worldwide.
"Participate, learn, and invest the funds provided so that we can produce skilled investors, employees, and entrepreneurs," added Professor Lwoga.
On her part, the Acting Chief Executive Officer of DSE, Mary Mniwasa, mentioned that they were prepared to ensure that next year's competition involves all universities in the country to enhance education in this field.
She stated that the competition aimed to prepare students to understand the risks and benefits of investing in the stock market.
"In this year you will have investment classes, we expect you to learn a lot through your mentors. You will also have various clubs in your Colleges to discuss what you can do, and it's allowed to have more than one club," said Mniwasa.
The competition, scheduled to conclude next June, will involve students from the University of Dar es Salaam (UDSM), the Institute of Finance Management (IFM), and CBE.
These students will be provided with 1 million Tanzanian Shillings in virtual money, which they will use for purchasing shares. Those who generate higher returns will progress through various stages, including questions and answers about DSE, before the winner is announced.
Emmanuel Nyalali, the Special Projects Manager from DSE, stated that the purpose of organizing these competitions was to encourage students to view the stock market as an area that can enhance productivity and prepare them to be skilled investors and employees.
"When seeking employment and already possessing investment skills, even the prospective employer sees you as someone who doesn't need much guidance," mentioned Nyalali.
He highlighted that unlike previous years, this year the students will have groups to exchange expertise, and they will also receive assistance from mentors who will guide them on what to do and when.