The JSE Investment Challenge, the Johannesburg Stock Exchange’s (JSE) premier financial literacy initiative, has launched its virtual trading floors as it approaches its 50th anniversary.
The Investing Challenge gives participants the chance to invest a fictitious sum of R1 million over the course of six months in real JSE listed shares, with the goal of promoting investment and enhancing financial literacy among South African schoolchildren and tertiary students. Top achievers will be eligible for exceptional rewards once the floor closes in September after their performance is monitored and compared to that of other competitors.
The program has been useful in educating young people about the basics of investing and the significance of financial literacy for half a century. 24,000 people from urban, suburban, and rural areas entered the tournament last year, making quite a diverse group.
“Over the past 50 years, the competition has served as an important tool for advancing financial literacy, demystifying the trading environment, and promoting early savings and investing. Idris Seedat, Head: Transformation and CSI at the JSE, said, “With gamification, we are now better able to make the competition entertaining and accessible to participants from all backgrounds, ensuring that thousands more are equipped with the core skills required to build wealth.
Despite the All-Share Index performing poorly during that time, the best teams in the university and school competitions last year achieved growth of 21.73% and 8.4%, respectively. Prizes were announced from the University of the Witwatersrand, Claremont High School, and ACUDEO College Crystal Park.
The challenge is open to all students, and high schools may enter one or more teams. Four students in Grades 8 through 12 must make up a team, and each team must be under the supervision of a teacher. Students at universities are required to form teams made up of individuals enrolled at the same university. There must be a minimum of two and a maximum of four people on each team. Each student, regardless of course of study, is qualified.
For participants in the university game, monthly rewards are given to the top-performing teams, and overall victors receive their share of R1 million in prizes, which includes a trip to a foreign stock exchange.
“We actively contribute to the development of a financially aware society as the largest stock exchange on the continent. Via interactive platforms, these opportunities enable our youngsters to practice practical trade skills, instill the value of saving, and make long-term investments in their growth toward financial independence. In order to ingrain financial literacy into our nation’s social fabric and commemorate the game’s 50th anniversary, we want to reach out to more schools, tertiary institutions, and communities than we have in the past.
