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Lobamba National High snatches investment challenge

Business Section

By Mbongiseni Ndzimandze - WEEKEND OBSERVER-12-Sep-2009

Lobamba National High School maintained its lead as they again scooped the first position in this year’s school investment challenge, organized by the Swaziland Stock Exchange.

This year event has been sponsored by amongst others African Alliance Price WaterHouseCoopers and KPMG. For their achievement the school was presented with a computer, printer, fax machine and E3000 cash.

They were followed closely by St Michaels High School which was also presented with a computer, fax machine and E2000 cash. Peace Dlamini who is Swaziland Stock Exchange (SSX) Consumer Education Officer said the investment challenge was a broader consumer education programme aimed at educating the local investor and the budding entrepreneur about the dynamics of investment especially in investment options outside the banking fraternity and the capital market.

“The school investment challenge has all the makings of a legacy as it was first introduced in 2004 and has been held continuously and successfully every year since,” he said. Dlamini said the challenge was not about winning prizes by participating schools, but it was aimed at educating students about the operations of the real investment platform through the Swaziland Stock Exchange.

“What the unit does is that it gives each school an imaginary E500 with which they invest in real products, such as bonds and shares on SSX. He further stated that students also call in and request the SSX to invest their cash in various companies to maximize returns either by cooperate action where dividends were paid. He disclosed that this year 18 schools participated in the competition and they believed that those who participated gained tremendous knowledge and also realized the monetary benefits that can be realized through investing on the stock exchange.

Mabuza said this year’s competition saw new school which are located in remote areas of the country participating. “We would like to congratulate all the schools that participated in this year investment challenge. He then thanked the individual teachers who taught the subject while explaining the details of trading.

...Students have gained

Students who participated in this year’s schools investment challenge have all gained invaluable knowledge on the operation and benefits of investing through the Swaziland Stock Exchange (SSX). This was said by General Manager, Financial Regulation Simelane during prize presentation ceremony of the schools investment challenge yesterday.

“I am also happy that SSX attended this year’s Trade Fair. The purpose of our participation was to spread awareness about SSX to the public at large,” he said. Simelane said he has no doubt that the country’s future stockbrokers, fund managers and investment advisors were among the students who participated.

Schools that participated in this year’s competition were 18 and they include Dvokolwako High School, St Michaels, Mbekelweni High and Lobamba National High. Below are the winners and the prizes: 1. Lobamba National High School- Computer, printer, fax and E3000 2. ST. Michaels High school – Computer, fax and E2000 3. Dvokolwako High school-Computer E 1 750 4. Mbekelweni High School- Fax and E1 500 5. ST.Francis High School – Fax and E1 250

SSX thank ministry of Education

The Swaziland Stock Exchange has since thanked the ministry of Education especially the inspectorate of commercial subjects and the commercial teachers for mentoring and supporting the students.

These remarks were made by Chairman of SSX Masotja Vilakati who was representing Central Bank Deputy Governor Sibongile Mdluli, during the prize presentation ceremony of the 2009 SSX schools investment challenge yesterday. “Another very important stakeholder in promoting the SSX challenge has been the media especially the print the media. I am grateful that they publish SSX closing share prices on daily basis and more significantly free of charge,” he said He also thanked the participants and teachers for contributing and assisting the students.

“I would like to congratulate the schools that managed to make in top five of this challenge. We would like to thank the staff for their unrelenting effort in managing the challenge to its logical conclusion,” he said.

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