Competition encourages stock investment in Africa
The African Stock Investment Competition (ASIC) kicked off at the beginning of March and is the only investment competition focused on all active African stock exchanges open to students around the world.
Lauri Elliott, Director of Afribiz Media, says “We wanted to find a unique way to engage students about investing in Africa. Students today should be playing a part in the rise of the African continent as an emerging region over the next 40 years; it’s important for them and the continent that there is a broader understanding of what Africa has to offer.”
According to a statement more than 100 students are registered for this ASIC edition, including students from diverse universities throughout the United States, India, China, and Kenya.
“It’s so exciting to see the variety of universities involved internationally. A decade ago, or even five years ago, something like this was unimaginable,” says Bahiyah Yasmeen Robinson, CEO of Universal Creativ Solutions – a lead partner of ASIC, “I predict that the coming years will position ASIC to be the premiere tool for understanding and engaging African stock markets both experientially and in real time.”
To date, weekly quiz competitions for the Nairobi Stock Exchange, Johannesburg Stock Exchange, and Casablanca Stock Exchange have been completed. Two cash prizes of $100.00 have already been awarded to students.
Each week, a different set of African stock exchanges are covered until mid-May 2011. These competitions are designed for individual students participating in ASIC and occur online. No prior knowledge is needed because the ASIC quiz platform provides resources needed to complete successfully. Students can still register to participate in upcoming quiz competitions at www.africanstockcompetition.com.
In addition, the ASIC Level 2 team trading competition got under way on 14 March 2011. Student teams compete to develop the best growth stock portfolio before the end of September 2011. The teams use a virtual trading platform which simulates activity on the JSE provided by the JSE/Liberty Investment Challenge.
ASIC will premiere again in the fall of 2011 and run different competitions throughout the year, so that students have a variety of opportunities to engage with and explore the African capital markets.
:InformAfrica reports – Investment News, Africa.