A team of students from the National University of Science and Technology (Nust) were last Thursday named as winners of the Chartered Financial Analyst (CFA) Institute Research Challenge in Zimbabwe.
Following their victory, the students advanced to the next level of the world’s leading investment research competition and will compete against universities from Europe, Middle East, and Africa.
The regional finals will be held on 10th and 11th of April 2019 in Zurich, Switzerland and will be hosted by CFA Society Switzerland.
The local challenge was the first step of two for a local team to advance towards the global final in New York, US, on April 25, 2019.
The Nust team consists of Andrew Dewah, Obvious Khumalo, Lynet Koteni, Tanaka Mupatsi and Memory Singadi.
Simbarashe Mangwendeza of Old Mutual Securities mentored the team while Cloudio Chikeya, a lecturer at Nust advised the team.
Other universities that competed at the local research challenge were from, Africa University, Chinhoyi University of Technology,Harare Institute of Technology,Midlands State University, Solusi University, and University of Zimbabwe.
Each university sent a team of three to five students to participate in the local challenge.
The students presented their analysis and buy/sell/hold recommendations on ZSE listed Padenga Limited. Their presentation at the local final was the culmination of months of research; interviews with company management, competitors, and clients; and presentation training.
For the students it was a great moment with some seeing that as a big step towards the professional life.
One of the students, Memory Singadi had this to say: “It feels so good to win though it was very challenging. For me the experience is a stepping stone to the future and my career.”
Obvious Khumalo, another member of the winning team felt the competition gave them “a practical feel of the corporate world”.
CFA local host coordinator Ranga Makwata was full of praise for the competing teams especially on how they were able to grasp key concepts of the competition such as financial analysis and equity valuation over a three months mentorship programme.
“With this kind of enthusiasm and talent the future of the investment profession in the country is very good and that can only improve our capital markets further,” he said.