UDSM Students Crowned National Champions at 2026 CFA Research Challenge
By Dickens Dominic, CMU
Students from the University of Dar es Salaam Business School (UDBS) have been crowned national champions of the 2026 CFA Institute Research Challenge – Tanzania Local Finals, securing first place in one of the country’s most competitive platforms for emerging finance talent.
The victory marks a significant milestone for UDSM, whose students outperformed 14 university teams in a contest widely regarded as the gold standard in undergraduate equity research, elevating Tanzania’s academic profile on the global stage.
Organised under the globally respected CFA Institute framework, the Challenge requires participants to undertake real-world financial analysis, valuation modelling, and high-level investment presentations under the mentorship of academic and industry professionals.
After months of intensive preparation, four UDSM teams submitted equity research reports to CFA Society South Africa for technical review. During the Local Finals held at the Dar es Salaam Stock Exchange on 10 February 2026, UDSM demonstrated exceptional depth and consistency.
Two of the five teams that advanced to the semi-finals were from UDSM, and both ultimately secured places in the final round, guaranteeing the University a top-two national finish.
Following a highly competitive presentation before a panel of leading financial sector experts, first place was awarded to the UDSM team comprising Alinamaka Sanga, Morice Magnus, Bertold Seraphine, Brightness Morris, and Lucian Amitel, who will now represent Tanzania at the CFA Society East Africa Regional Competition against teams from Kenya, Uganda, Rwanda, and Ethiopia.
A second UDSM team – Albano Abisai, Austin Ngalya, Bryna Simon, Hellen Nganila, and Sadi Hassan – secured second place, underscoring the University’s dominance in the competition.
Commenting on the achievement, Prof. Omary Mbura, Dean of the University of Dar es Salaam Business School, described the victory as a powerful affirmation of the School’s commitment to integrating academic rigor with market relevance.
“This milestone reflects a deliberate academic architecture that blends theory with practice. Our students demonstrated mastery of valuation frameworks, disciplined ethical reasoning, and boardroom-ready communication skills. We remain committed to producing graduates capable of competing and excelling at continental and global levels,” he said.
Dr. Thobias Swai, Head of the Finance Department, highlighted the strength of UDSM’s academic–industry collaboration model in preparing students for real-world financial environments.
“The CFA Research Challenge tests intellectual discipline, resilience, and professional maturity. The dual success reflects the robustness of our curriculum, the dedication of our faculty, and the calibre of our students,” he noted.
A journey of discipline, teamwork, and national pride
Brightness Ephraim Morris, a B.Com Finance student and member of the championship team, described the experience as both demanding and transformative.
“This process required long hours of financial modelling, rigorous peer review, and continuous refinement of our valuation thesis. Winning affirms the quality of education at UDSM and the immense potential of Tanzanian youth in global finance,” she said.
Hellen Victor Nganila, a B.Com Accounting student from the second-place team, emphasised the collective strength demonstrated by UDSM.
“Reaching the final alongside another UDSM team showed that excellence here is institutional. We are proud to have contributed to raising Tanzania’s profile in such a prestigious competition,” she added.
The University’s success was underpinned by early registration, disciplined preparation, and coordinated faculty mentorship. Students analysed NMB Bank Plc, the subject company for this year’s challenge, while receiving technical guidance in equity research methodologies and professional report writing.
Draft submissions underwent rigorous critique to strengthen analytical precision and valuation defensibility.
Mr. Bless Mwego, a faculty advisor, underscored the discipline behind the achievement.“Our focus was on building a defensible valuation thesis grounded in sound financial modelling, sector intelligence, and macroeconomic alignment. The teams demonstrated clarity of assumptions and composure during the defence stage”.
Advancing Tanzania’s capital market future
Senior representatives from the Bank of Tanzania, NMB Bank Plc, CFA Society East Africa, and leading advisory firms attended the finals, highlighting the competition’s national significance in shaping the next generation of investment professionals.
UDSM’s triumph positions the University not only as a national academic leader but also as a strategic contributor to the development of Tanzania’s capital markets ecosystem. By nurturing analytically competent, ethically grounded, and globally competitive finance professionals, the institution continues to align its mission with national development priorities.
As the championship team advances to the East Africa regional stage, the University community stands united in support – confident that UDSM will continue to represent Tanzania with distinction, intellectual excellence, and professional integrity.