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UJ Trio Tops July in 50th JSE Investment Challenge
The University of Johannesburg’s “VK 29 MMS” team has secured victory in the JSE Investment Challenge for the month of July, competing in the Speculator Portfolio of the University category. This dynamic duo, consisting of Madoda Hlatshwayo and Sebolaishi Manamela, was impressed by achieving a remarkable growth rate of 7.67%. Their performance demonstrated their investment acumen and ability to navigate the complexities of the stock market effectively as reported by iAfrica.
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Madoda, an aspiring Chartered Accountant (CA), emphasised the significance of the JSE investment challenge for students like himself. He sees it as essential for building confidence and refining critical thinking skills. He added that the experience enriches their minds and equips them with practical skills for the future. Their success, he noted, was rooted in a well-crafted strategy and a resilient mindset. They conquered the fear of failure, turned it into their strongest asset, and persisted even after losses. Seeking guidance from expert forex traders through videos was part of their strategy, enabling them to learn how to navigate losses and secure substantial profits.
The 50-year milestone of the Investment Challenge underscores the crucial role financial and investment literacy plays in shaping the futures of young South Africans. VK 29 MMS’s triumph, along with that of their peers, highlights their individual skills and the importance of instilling financial literacy from an early age.
Sebolaishi added that their straightforward approach to success underscores the authenticity of the Investment Challenge experience. They focused on staying competitive with their classmates on the scoreboard and invested in profitable stocks, leveraging their limited knowledge of the stock market. She emphasised that investment literacy is pivotal in reshaping perspectives on income and business dynamics, introducing an additional stream of income that students may not have considered. Understanding investment choices and their influence on future outcomes is essential, and challenges like the Investment Challenge provide a fun and engaging way to learn, ensuring uninterrupted studies.
However, South Africa faces a challenge in terms of financial literacy, with only 42% of the adult population considered financially literate, according to the Organisation for Economic Co-operation and Development (OECD). This deficiency is particularly pronounced in rural areas and low-income demographics with limited access to financial education.
Recognising the need for accessible financial education, the JSE Investment Challenge remains committed to enhancing investment skills and bolstering financial literacy among the nation’s youth. Ralph Speirs, CSI Officer at the JSE, stated that the Challenge has evolved into a cornerstone of financial education, nurturing a deep comprehension of investing and financial discipline among the youth.
The JSE Investment Challenge continues to evolve, using gamification to engage participants from diverse backgrounds. Last year alone, the competition attracted 24,000 participants, showcasing its effectiveness in equipping young people with essential financial skills.
At the University of Johannesburg, the Investment Challenge forms a compulsory class activity for the Business Management class, led by lecturer Suzaan Hughes. With 180 teams participating, students are awarded marks for their participation and performance.
The competition’s final round is currently underway, and updates can be followed on social media platforms: Facebook, Twitter, Instagram, and TikTok (@jseinvestmentchallenge). The August winners will be officially announced in September, with the grand announcement of the annual winners scheduled for October 6th.
July’s winners in various categories include:
- Income Portfolio for schools: MP On Top from Mpumelelo Secondary School in Mpumalanga
- Equity Portfolio for schools: RM Super Market from Mountainview High School in Gauteng
- Spectacular Portfolio for schools: CSW-Millionaires from Worcester Gymnasium in the Western Cape
- Speculator Portfolio for Universities: MK 29 MMS from the University of Johannesburg in Gauteng
- ETF/ETN Portfolio for Universities: Healthy Profits from Stellenbosch University in the Western Cape
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Photo: Facebook / @JSE Investment Challenge
