The maiden edition of the Young Investors Stock Pitch Competition came to a close on 27th November, 2020 and UMBS was one of its main sponsors.
A Stock Pitch Competition is a summary of a potential investment idea into a company listed on the Ghana Stock Exchange. The participants pitched a buy, sell or hold position on a company of their choosing and presented their findings to a panel of judges who selected the best.
Over 150 students across the various tertiary institutions in Ghana were part of a training program embarked on by the Young Investors Network. Out of this number, the students formed 19 Teams who participated in the competition from which the winners were chosen.
The competition attracted students from Ashesi University, University of Ghana, KNUST, Accra Technical University, University of Cape Coast and Takoradi Technical University.
The winning team pitched for a sell position in Guinness Ghana Breweries Ltd while the second and third teams pitched for a buy position in Standard Chartered Bank Ltd and GCB Bank respectively.
The total value of the prizes was GHS12,480. The winners were given a scholarship to study the Ghana Stock Exchange Securities Courses to shape their path to be investment bankers. In addition, shares of their choice were also purchased from UMBS in their individual names.
In a short speech at the closing ceremony, the Executive Director of the Young Investors Network, Kofi Busia Kyei, thanked the GSE a for the enormous support to the initiative. “…from our interactions with students in our objective of creating a new generation of investors in companies, we realized that though the students understand the financial statement, they are unable to practicalize it.
This is one of the initiatives we have taken to help the students… with this experience, we will make you ambassadors of the Ghana Stock Exchange on all your campuses”.
The Deputy Managing Director of the Ghana Stock Exchange, one of Ghana’s leading female Investment Bankers encouraged the Young Investors Network to continue with their good works and congratulated the winners as well as all the competitors. She also admonished the students to take stay focused to pursue their chosen careers.
The President and Founder of YIN, Mr. Joshua Mensah, on his part mentioned on the sidelines that “…Young Investors Network is on the path to be at the forefront in promoting capital market education among the youth in Ghana…” and charged his organization to immediately get back to work to make the next edition better whiles showing concern about the low patronage of the capital market by Ghanaians due to low financial literacy in the country.
The Judges for the competition were Mr. Yaw Saifah (Vice President, Corporate Advisory with UMB Investments Holdings Ltd), Nana Kofi Agyeman Gyamfi (Vice President, Corporate Advisory with Bora Capital) and Mr. Haruna Gariba (Executive Director, WAICA-Re Capital). They share about three decades of experience in investment banking in Ghana.
The next edition will take place in November 2021 with the selection stages on the various campuses is set to begin in February 2021.
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