MSE urges Malawians to invest in stocks

The Malawi Stock Exchange has said sound financial advice is key if people in the country are to reap huge returns from their short and long term investment in the stocks.

John Kamanga, MSE’s chief operating officer was speaking in Blantyre during a media briefing to drum up support for the upcoming National Financial Literacy Week which runs from 9 to 14 December.

He said Malawians should invest in the stocks as the instruments are safer and offer huge investment returns.

“Shares are something that is well managed, people should take this opportunity. The stock market is not for the rich. Shares are affordable, even local people can afford, this market is for everyone,” he said.

Kamanga said the National Financial Literacy Week offers an opportunity for the financial industry to raise awareness of their products and also encourage people to save and invest.

“MSE would like to reach out to more people so that they can come on board and invest in stocks. We are making linkages with various institutions including visiting learning institutions to share information about this market,” said Kamanga.

Kamanga who was flanked by stockbrokers, investment fund managers and other financial market players indicated that MSE is doing well and is huge market for people to invest in right instruments.

Mark Mikwamba, President of Fund Managers Association of Malawi says their association’s main aim is help people to benefit from the stock market.

He said as investment managers their role is help people to invest when they have been given sound advice.

“We manage investment according to your objectives. Portfolio managers have the knowledge of the market and can even spread your investment so that you get the best return. Do not invest on hearsay, invest when you have sound advice from investment managers or stockbrokers,” he said.

Alliance Capital chief executive officer Armstrong Kamphoni said some of the fund managers that can assist people are Old Mutual Investment Group, Alliance Capital, CDH Assets Management, NBM Capital and Nico Asset Managers.

National Financial Literacy Week will be launched on Monday at Comesa Hall in Blantyre.

—For more read THE NATION tomorrow