THE DEPARTMENT OF ECONOMICS AT VFU ‘CHERNORIZETS HRABAR’ IS PREPARING A TEAM FOR THE CFA INSTITUTE RESEARCH CHALLENGE
05 december 2025
The Department of Economics at Varna Free University “Chernorizets Hrabar” is actively working with a student team that will take part in the prestigious international CFA Institute Research Challenge, organized by CFA Society Bulgaria in February 2026. The initiative brings together key universities in the country to compete in the analysis of publicly traded companies and the presentation of results before experts from the investment industry. Participation provides students with the opportunity to develop competitive research and analytical skills based on real business cases.
This year, the university will be represented by a team of students enrolled in the English-taught International Business programme — Maria Kafedzi, a second-year student from Greece, Ehigi Blanch Sebastien-Eshemogie, a third-year student from Nigeria, and Madelena Kostadinova, a third-year student. Under the guidance of their mentor, Sevgi Osman, a lecturer in the Department of Economics, their preparation combines an international perspective, academic knowledge, and a strong drive for professional development.
The competition offers an opportunity for in-depth practical experience in equity research and corporate analysis. The students will analyze the publicly traded company Speedy AD, and their analytical report will reflect best practices in the field. They will have the chance to present their results before a highly qualified panel of specialists and compare their analytical abilities with teams from other leading universities in Bulgaria. The national winners advance to the regional and global stages of the competition, making the initiative a real platform for international academic and professional growth.
This season, universities from various regions of the country are expected to participate, and Varna Free University will once again be among them with its motivated, international, and professionally prepared student team. The Department of Economics stands behind the preparation and support of the students, who from the very beginning have approached the challenge with enthusiasm, ambition, and a commitment to strong performance in one of the most prestigious academic competitions.