We often speak of investment in the youth as the best way forward for the continent, but we seldom talk about the youth investing to generate wealth. According to the Kenyan ministry of Devolution and Planning, the unemployment rate currently stands at 12.7% and mostly affects the youth between the ages of 18-35 years who account for over 30% of the total population in Kenya. The Capital Markets authority in the country has launched a National Trivia Competition to inspire the youth to invest within the Capital Markets in the country. Thus facilitating an avenue for them to find funds start their own businesses and provide employment for themselves and their peers.
The Capital Markets Authority (CMA) is a regulating body charged with the prime responsibility of supervising, licensing and monitoring the activities of market intermediaries. This includes the stock exchange and the central depository and settlement system and all the other persons licensed under the Capital Markets Act of 1989. It plays a critical role in the economy by facilitating mobilization and allocation of capital resources to finance long term productive investments. The national trivia competition is aimed at anyone who has the potential and interest in investing in the capital markets and the youth are especially encouraged to participate. To enter all one needs to do is to send the word ‘CMA’ to 20727, answer at least one question and be eligible for a prize. Prizes include sums of money ranging between 10,000 and 200,000 that can only be used to invest in the capital markets. This means that the prize won’t be a lump sum payment but money that can only be used in the capital markets.
Through using a trivia competition, via the mobile network in Kenya CMA have taken innovation to a whole other level. This way the youth are learning about the Capital markets while getting the funds to participate in the capital markets. There is literally no criticism I can personally give this initiative. If you are in Kenya I urge you to participate!
Photo Credits: Capital Markets Authority