Capital Market and Securities Authority

Capital Markets Universities and Higher Learning Institutions Challenge (CMUHLIC)

Categories of the Challenge

The challenge will have three categories of essay writing and quiz competition for the students to choose the desired option. Since the competition is designed to avail an opportunity to students to learn more about the capital markets, the students are not restricted to participate in both categories of the challenge. However, in the event that a student wins in both categories the prize will be awarded for one category only so as to give room to other students to win the prizes. Details for the categories are as follows:

Capital Markets Quiz Challenge

This involved a set of 200 multiple choice questions out of which students are required to attempt 100 questions only. The questions are generated by computer and are sent randomly to the students who register for the competition through mobile telephone short messages or web based application.  A set time period of not less than 3 months is availed to the participating students to enable them participate without interrupting their studies.

The use of mobile telephone technology has been adopted to enable easy, reliable, efficient and cost effective means where students can enroll and participate at their desired time without interfering with their routine study activities.

For the year 2022 the competition will run from 7th December 2022 to 20th February 2023. The participating students in the challenge will be required to respond to the questions that are provided by sending an SMS with a word “Challenge” to 0766 046 046 from any mobile phone network or on Web portal link for students: The more questions one responded to, the higher the chances of winning prizes. The winners are those participants with the highest scores in the categories of female and male students.

Essay Competition

In this category, students are required to write an essay on the topic titled “Discuss Socio and Economic Impact of Covid 19 and Russia – Ukraine war in Capital Markets in Tanzania and the Way Forward” giving practical examples. 

The essay should be typed not more than 4 pages, Times New Roman font size 12, 1.5 spacing and containing a maximum of 1,500 words. The participating students are required to ensure that their submission contains names as it appears on their student identity card, their telephone number and email addresses, field and year of study saved in MS Word 2001 – 2010 format file and sent by email to 

In order to ensure prudence in marking and identity of the participating students, in submitting their essays students are required to indicate the heading by writing: CMSA 2022/23 Challenge: first and second names and their institution of study.