Tanzanian University Student Wins Sh 2.6 Million in Investment Competition

Rehema Haji Soza, a third-year student at the University of Iringa, has won Sh 2.6 million in an investment competition. She shared her strategy of using part of her student allowance to buy stocks in financial institutions. Rehema, who is studying Bachelor of Science in Accounting and Finance, got the opportunity to participate in the Campus Connect conference at the University of Mkwawa in Iringa.

At the conference, Rehema explained that out of Sh 600,000 she receives as a student allowance, she sets aside Sh 200,000 to buy stocks in banks such as CRDB and NMB. She started this initiative to learn the importance of investing part of her allowance instead of using it all for daily expenses. Her explanation attracted the attention of conference participants, who were impressed by her understanding of investments.

Rehema's presentation earned her a spot in the Bonga na Waziri competition, where she competed against four other participants. The competition evaluated participants based on confidence, understanding, and participation. Rehema emerged as the winner, while Jesca took second place and received Sh 400,000.

As a result of her win, the Minister of State in the President's Office for Youth Development, Dr. Joel Arthur Nanauka, promised to add Sh 500,000 worth of stocks in CRDB Bank to her investment. CRDB Bank also pledged to add Sh 500,000 worth of stocks, while a representative from the Stock Market and an Assistant to the Deputy Secretary General each offered Sh 500,000.

The total contributions and pledges Rehema received amounted to Sh 2 million, and with other prizes, her total winnings were Sh 2.6 million. The government also promised to involve her in similar platforms to share her experience and encourage young people to invest and build their economy.

The conference also featured an Idea Challenge competition aimed at identifying and promoting youth creativity in business and entrepreneurship. Ntihindu Esdras, who owns a student shoe manufacturing business, won first place and received Sh 3 million. Baraka Wilbroad, who produces soy milk, took second place with Sh 2 million, while Enesta Mayeota, who manufactures women's clothing, took third place with Sh 1.5 million.

Dr. Nanauka urged young people to take advantage of government opportunities to self-employ, start businesses, and participate in development activities rather than waiting for employment. He mentioned that the government has continued to create an enabling environment for young people to participate in economic activities, including allocating 30% of public procurement to specific groups such as youth, women, elderly, and people with disabilities.

Key points

• Rehema Haji Soza wins Sh 2.6 million in an investment competition after sharing her strategy of using part of her student allowance to buy stocks.