VScandidates Jacobus Rossouw, Evan Engelbrecht and Frank Stevens have been named as the three big winners of the Johannesburg Stock Exchange (JSE) First Virtual Trading Game Competition.
The main winners are respectively from Gauteng, the Eastern Cape and the Western Cape.
The winners were announced at a virtual awards ceremony that was broadcast live on Facebook on Wednesday, December 8.
They received a share of R60,000 in Satrix vouchers – R30,000 for first place, R20,000 for second and R10,000 for third.
âI want to congratulate our first three winners. They performed very well and I wish them all the best in their future business endeavors, âsaid Vuyo Lee, Director of Marketing and Corporate Affairs at JSE.
The JSE online trading competition simulates a real trading environment and provides members of the general public with a risk-free opportunity to trade stocks.
The initiative is part of the JSE’s efforts to be a socially responsible integrated exchange on the African continent, inspired to build a prosperous future for all who are within reach of its influence.
To that end, the exchange said it aims to play an active role in building a financially literate society in South Africa.
âThis was the main inspiration behind the launch of the VTG initiative which enables the average South African to acquire real financial skills while participating in exciting competition,â said Lee.
âEarlier this year, we encouraged all South Africans to take this great opportunity to learn more about stock trading online and the stock market in general.
The contest was launched on September 1 and continued until October 30.
All of the prizes were in the form of Satrix vouchers, allowing the winners to begin their real investment journey.
Winners can choose which exchange traded fund (s) to purchase on the Satrix platform or choose to withdraw the money.
To qualify, VTG participants had to ensure that they complete at least one trade between September 1 and October 30, trade (buy and / or sell shares) at least 15 times between September 1 and October 30. October and spend 750,000 Rand of their money during the competition.
âWe believe that VTG is a very convenient and excellent way to open doors for those who are interested in trading, helping them to take it to the next level and create their own accounts,â said Lee.
âAs JSE, we recognize the key role we need to play in promoting financial literacy, as well as increasing retail investment in JSE. We want to send a strong message that investing in the stock market is not as intimidating or complicated as a lot of people think.
âWe hope that through the VTG, South Africans will begin to understand that investing in the JSE is accessible to anyone who wishes to set aside time to learn about investments.
âI strongly encourage anyone interested in becoming financially self-sufficient to take this opportunity in the future to learn and make money while gaining an appreciation for how a well-regulated market for financial instruments works. “