IMF partner of Business Weekly for capital markets Quiz show

the herald

business journalist

Jhe Financial Markets Indaba (FMI), in partnership with sister publication The Herald, Business Weekly, will host the Capital Markets – High School competition from September to the end of October this year as part of efforts to show the important role markets play capital in the economy. development.

It also aims to foster a culture of saving at an early age as well as increase financial literacy and inclusion in capital markets.

The Capital Markets – High Schools Quiz competition is part of the Capital Markets Awards program, which is an annual landmark recognition event to assess institutional achievement and performance in Zimbabwe’s financial sector markets and trading landscape.

The Ministry of Primary and Secondary Education has already approved and approved the quiz competition featuring students from Form 4 to Form 6 with at least 120 students expected.

All public, private and parochial secondary schools in Zimbabwe are eligible to participate.

The competition will be structured as a 20-team academy knockout tournament with four qualifying matches and a single final domestic league match.

IMF Managing Director Patrick Muzondo said the program is also an opportunity to educate and demystify the complexities and myths surrounding participation in financial and capital markets and, in turn, encourages individuals to all walks of life to invest in local markets, including stock exchanges.

“The Capital Markets – High Schools Quiz competition offers a unique and exciting way to motivate, inspire, encourage and reward high school and high school students in their quest for knowledge and give them the opportunity to celebrate their achievement in a high profile, national competition.

The Quiz encourages a generation aware of the importance of savings, financial literacy and financial markets.

“The Securities and Exchange Commission of Zimbabwe (SECZim) is the main sponsor of the Capital Markets Quiz Competition – High Schools.

“Materials from the Investor Protection Fund (IPF) and SECZim Investment 101 Handbook will be included as part of the quiz competition program and are intended to provide the tools and guidelines a potential investor would need to help them take informed decisions and serves as a comprehensive guide for individuals and organizations to become savvy investors in the Zimbabwean capital markets,” he said.

According to the IMF, a summary of the manual has been translated into ChiShona and IsiNdebele, providing an opportunity to conduct the quiz using at least three of Zimbabwe’s official languages.

As part of the government’s 2030 vision of an upper-middle-income economy, capital markets are seen as a mechanism that can be used to reduce poverty, provide opportunity for those who do not yet have it, foster inclusiveness and equality.

In turn profitable exchanges, investors and businesses rely on sustainable, healthy and prosperous societies.

The consensus among capital market players is that currently the sector does not receive enough recognition from policy makers despite its crucial role in providing capital raising solutions to businesses.

As such, there was a need for all capital market players to work together and raise a voice that cannot be ignored in the economy and demonstrate their relevance to the economic transformation agenda.

To fill this gap, SECZim is working with the relevant authorities for an intervention during this quarter.