The trading platform, originally created for the JSE/Liberty Investment Challenge conducted annually for South African university students, offers a simulated virtual environmental where shadow bets are able to be placed against current market data.
J. Skyler Fernandes, chief operating oficer for the South African Chamber of Commerce in America (SACCA), says this is “a unique opportunity for students in the U.S. to learn about African financial markets through a true hands-on trading experience.” The African Stock Investment Competition (ASIC) is the only competition of its kind to expose students outside of South Africa to the emerging capital markets of Africa’s public securities. ASIC is sponsored by Afribiz, Africa investor and SACCA, with support from the Johannesburg Stock Exchange (JSE), VC4Africa, Wilson Global Communications, African Press Organization, and Global Africa Media.
“Year on year, Africa produces return on investments better than any other global region, yet even in a globalized world, young people learn little of financial and capital markets in this emerging region,” says Lauri Elliott, director of Afribiz Media. “With competitions like ASIC, we help our young leaders learn all that’s available in the world not just what’s around the corner. As these students head into professional careers or businesses, they need to be exposed to the entire investment world,” adds Elliott. The JSE for example is the 17th largest stock exchange in the world, and competes on a global level. This is especially important when you realize that South Africa has the 26th largest economy by GDP and the 33rd largest labor force in the world.
Competitions like ASIC help introduce students to the world of investment, as well as the potential for investments in African companies. Sean Riskowitz, CEO of Riskowitz Capital and former JSE/Liberty Investment Challenge participant, says “My experience with a competition like this was a great introduction to the markets, investment analysis, and the pure wealth generating capability of the exchange. It really taught my team a lot – both about the workings of the market and about the tremendous economic opportunity in South African companies, and hence Africa.”
Hubert Danso, managing director of Africa Investor says, “I think this is also an opportunity to support Brand Africa as a place of wealth instead of poverty, which can attract more people to the continent to do business and investment.” Danso adds, “This competition represents the compelling possibilities that are available for the next wave of future wealth creators in Africa, and emphasizes the need to actively participate in sharing in these opportunities across Africa’s capital markets.”
ASIC consists of 2 levels:
Individual Competition exposes and educates students on all the African stock exchanges, which exceed 20 in number. Students have access to information, resources, and interviews with key people that have knowledge of each African stock exchange, including stock exchange officials, brokers, and analysts. In ASIC Level 1, students win prizes by participating in short, interactive competitions as individuals.
Team Trading Competition exposes students to reality-based trading on the Johannesburg Stock Exchange in a simulated, virtual platform. Students compete in teams to build the best growth stock investment portfolio over six months.
ASIC is open to currently enrolled U.S. college and university students at least 18 years old, as well as to students at participating universities around the globe. The competition will run from January – September 2011.
For more information, visit http://www.africanstockcompetition.com