Deadline : 11th August 2023.

Theme : “Enhancing Youth Financial Literacy to Upscale Competitiveness in the Labor Market”

1. Background

The unemployment rate in Rwanda has shown some fluctuations over the years. According to the National Institute of Statistics of Rwanda, as of the latest data in 2021, the overall unemployment rate stood at around 14.2%. However, it is essential to note that the unemployment rate is higher among youth than adults.

Addressing unemployment in Rwanda is an ongoing process that requires multi-sectoral efforts and continued investment in education, skills development, entrepreneurship, and economic diversification

In today’s rapidly evolving global economy, youth face numerous challenges when entering the labor market. Financial literacy is a crucial aspect that significantly impacts their employability and long-term economic well-being.

Financial literacy refers to the knowledge, skills, and understanding of economic concepts and principles that enable individuals to make informed and effective financial decisions. It involves having a solid understanding of various financial topics, such as budgeting, saving, investing, borrowing, and managing debt. It is a significant area of focus for the government and multiple organizations. Financial literacy enhances an individual’s competitiveness in the labor market by enabling them to make sound financial decisions, negotiate better compensation packages, manage debt effectively, and plan for long-term financial goals. These skills contribute to financial stability, reduce stress, and give individuals a competitive edge in their career paths.

In Rwanda, there are still gaps in financial literacy among the youth whereby there is ;

• Limited Awareness and Understanding : Many young people may not fully comprehend financial concepts, such as budgeting, saving, investing, and managing debt. They do not understand the importance of financial planning and the long-term implications of their financial decisions.

• Cultural and Socioeconomic Factors : Cultural and socioeconomic factors can influence financial literacy among youth. Financial discussions and education may sometimes not be prioritized or considered taboo within specific communities or families. Economic disparities and limited access to financial services can also impact financial literacy.

This lack of financial literacy among youth has different consequences. It can result in limited access to credit and capital and hinder economic growth. Furthermore, without a solid understanding of personal finance, young individuals struggle to plan their futures effectively, save for emergencies or retirement, and make informed decisions that align with their long-term financial goals. To address this problem, it is crucial to implement targeted initiatives that enhance youth financial literacy.
It is against this backdrop that for the seventh time now, EPRN, is organizing a research conference for youth in higher learning institutions, a conference which will involve mobilization campaigns to enhance youth financial literacy, and research on topics related to employment and financial management.

2. Objectives

Here are the objectives of this seventh students’ conference :
● To improve the financial literacy of youth through comprehensive education and skill-building initiatives.
● To foster a mindset of financial independence and resilience among youth, enabling them to make informed decisions and adapt to economic challenges.
● To enhance the youth’s understanding of economic concepts, the financial system, and the role of entrepreneurship in fostering economic growth.
● Equip youth with the financial skills, knowledge, and confidence to navigate the labor market successfully, make informed financial decisions, and build a strong foundation for their future economic well-being.
The 7th Students Conference will be an excellent platform to reflect and brainstorm on financial literacy and its impacts on the competitiveness of youth on the labor market.

3. About the Competition
3.1. Competition categories
● Research abstracts : this is for individual student or a group of individuals
● Quiz competition : this is for groups made of 3 persons. Groups with female candidates and/or people with disability are highly encouraged to apply/register.

3.2. Theme and sub-topics

Theme : “Enhancing Youth Financial Literacy to Upscale Competitiveness in the Labor Market”

The abstracts should be under the following sub-topics :
● Youth Employment
● Financial Literacy
● Human Capital Development
● Education and Industry Linkage

3.3. Application Guidelines

3.3.1. For Research abstracts :
a. A student is allowed to submit only one abstract
b. Abstracts should be submitted in English
c. Applicants must be students of a higher learning institution from EAC during the submission period
d. Abstracts should not be more than 1 page (and has to include : the problem identification, relevance of the study, methodology to be used and source of data)
Submit your abstract through e-mail : info@eprnrwanda.org and copy to esperanceuwase704@gmail.com OR call 0788357648/0784621250. Mention your names, University, Contacts and the sub topic under which falls your abstract.

3.3.2. For Group competition :
Groups are invited to apply/register by sending an e-mail to : info@eprnrwanda.org and copy to esperanceuwase704@gmail.com OR call 0788357648. Mention the name of the group, university, and names and contact details of group members.

3.4. Awards Criteria
A judging panel will be established to evaluate and rank applicants against a number of awards.

GROUPS : Depending on number of registered groups, there may be competition at provincial level. The selected groups at provincial level, will then be invited to meet in Kigali for a national’ level competition. The first three groups nationwide, will be awarded financially or in-kind.

RESEARCH PAPERS : The authors of best abstracts will be trained and supervised to write quality papers around the mentioned theme and selected sub-topic. The best papers out of the abstracts will be selected and awarded financially or in-kind

3.5. Deadlines
Deadline to submit abstracts and register competition groups is due on 11/8/2023, 5pm Kigali time.

3.6. Who is allowed to compete ?
This competition is only open to undergraduate students from Rwanda and other EAC countries who are members of EPRN.

NB : Students who are not members to EPRN and are interested to participate in the competition ; are kindly requested to register to be members of EPRN by calling : 0788357648 or sending email to : info@eprnrwanda.org for more guidance on registration.

Do you need further clarifications ?

Get more info :
- From your EPRN Students’ Chapter at your respective campus
- Write to the EPRN Students’ Chapter representatives through info@eprnrwanda.org and/or ed@eprnrwanda.org OR call +250788357648.
- Visit EPRN office at CBE Gikondo or visit our website : www.eprnrwanda.org or our social media accounts for important updates and more information.

Done at Kigali, 11/07/2023.

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