InVhestia Competition

Personal Development for University Students: The Launch of InVhestia Financial Modelling Competition 2020

Posted on by InVhestia

‘Education is key to personal development and the future of societies. It unlocks opportunities and narrows inequalities. It is the bedrock of informed, tolerant societies, and a primary driver of sustainable development. The COVID-19 pandemic has led to the largest education disruption ever. We are at a defining moment for the world’s children and young people.’ These are the words of Antonio Guterres, the ninth Secretary-General of the United Nations at the launch of the policy brief: Education During Covid-19 and Beyond.

InVhestia has run an inter-university competition over the last 4 years. The initiative was launched when we realized financial modelling is not a widely practiced discipline and that revealed a skills gap in recent graduates entering the workforce. Over the years we have trained students in in various Nairobi based universities with top students getting internships and working on projects for institutions such as Open Oil, and getting internships at institutions like KPMG, InVhestia, HEVA Fund and Horizons Africa.

Last year, the FAST Standard Organization and F1F9 sponsored the competition which saw us reach more students than previous years. One of those students is Valentine Wahome, a 4th year student at the University of Nairobi. Valentine sat in for the training session carried out by a former winner of the competition. “This was the first competition I’ve ever participated in. I learnt about the training session from a student leader. What stood out to me in the session was how easy and efficient working in Excel seemed. Our school curriculum teaches us to use notebooks and a calculator. I had a hard time understanding macros but I submitted my model. I did not think I stood a chance but figured I should give it a shot nonetheless,” he says. Valentine ranked as top 10 in the competition and secured an internship opportunity. “Through this experience, I’ve learnt that financial modelling does not only mean good Microsoft Excel skills but rather understanding the assignment at hand and what the business or investor wants to accomplish.” He sat his FAST Level 1 Certificate Test and passed.

We are launching our 5th Edition of the competition, but this will be one like none other before it. Given the prevailing circumstances, we cannot go to the universities. However, we are going to leverage our digital learning platform to give the students access to top notch financial modelling content . “This year we are opening the competition up to students across the continent which is the positive outcome of going strictly online. We will give them free access to our courses and conduct webinars that they can access at their convenience. We are also looking for partners who will allow us to reduce the barriers as far as internet access and by increasing internship opportunities for the finalists. We believe this is the best time to invest in the personal development of the youth and build the next generation,” said Stephen Gugu, Principal at InVhestia.

We are pleased to be partnering with the FAST Standard Organization for another year and look forward to impacting even more students.  We agree with Mr. Guterres that education is the key to the future of society.

Follow our LinkedIn, Facebook and Twitter pages to schedule important dates share with university students near and far.

If you would like to partner in this initiative, send an email to learn@invhestia.com

 

How Building a Financial Model Changed My Life

Posted on by InVhestia

Every year, InVhestia runs an inter-university Financial Modelling competition in the 3rd quarter of the year. Last year, the top student was Fiona Mzee from Strathmore University. Fiona was participating in the competition for the second time and this speaks to her determination to succeed. She will be graduating with a Bachelor of Business Science in Financial Economics in June. At the end of her internship with InVhestia, we asked her to let us know how this journey had impacted her.

Fiona being awarded by Antony Maina, ANDE

Q. Why enter the competition for the second year?

A. I participated in the challenge twice because I got a certificate the previous and that was a very good incentive for me personally. I was also eager to participate this year because I got to see the positive impact it had on the previous year’s winners Bob Mani and Faiza Omar and thought, wow that could be me next year. The first time I did the competition I did not incorporate the FAST Standard to the best of my knowledge but was able to execute it better the next year since I understood it better. However, I must admit it was a pleasant surprise to have won. I did my level best but it was still quite surprising for me and one of the major highlights for me this year. I’m still very grateful and happy when I think about it. Building that financial model has changed my life.

Q. Do you feel that your expectations were met?

A. This experience was definitely beyond my expectations. Financial modelling is very different theoretically and practically. You have to be very analytical and be very focused on the task at hand as each model has to not only make sense but to be as very close to the actual business as much as possible. It takes application of knowledge to learn what we are taught in class. I think the internship was well structured I was able to learn a lot. I wouldn’t personally change anything. Everyone was very helpful during my time here. I got to get a wholesome experience and gain a lot of skills that will be useful during my progression.

Q. What would you say are some of your key takeaways?

  • I have learnt how to strive for perfection in my work. Clients expect us to deliver above and beyond what they except and Invhestia strives towards perfection in everything they do.
  • I was able to get a sense of the practical aspects to consider when building a model which can be translated to a real life project.
  • I have been able to learn a lot about project finance and corporate valuation especially from the videos I was given access to.
  • I’ve definitely improved on my excel skills and added to existing knowledge

Q. What advice would you give students who like yourself are looking to beef up their skills?

A. I would definitely encourage all students to participate in the competition because it helps one learn the FAST modelling approach which is a very convenient way and innovative way of modelling. You get a certificate from participating in the competition which is a great addition to the CV and the videos on Invhestia.com are very beneficial as well. Not to mention, the internship experience was very fulfilling and definitely gave me a good sense of what working in the finance industry entailed. In my opinion it’s a wonderful start in the career of finance.

Q. What is next for you?

A. I’m currently applying for Masters in Economics and Finance. I would love to study abroad to enhance my knowledge in my field of study. I definitely want to go into corporate finance in the future and definitely continue with financial modelling as well. I would also like to do some academic work as well in the field of economics and finance. This whole experience has been a huge stepping stone in my career development and given me the chance to prepare myself for what lies ahead in the competitive field of finance.

During her time with us, Fiona worked on various assignments that helped her build her financial modelling and research skills. She also sat for her FAST Standard exam and is now FAST Level 1 certified. We are grateful to have had Aspen Network of Development Entrepreneurs and Consonance Investment Managers as partners for the 2018 edition of the competition. This partnership allowed us to find opportunities for 4 of the other top students, some of whom have been retained by our clients.

Should you want to plug in for the 4th Annual InVhestia Inter-University Competition, kindly reach out on learn@invhestia.com