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ASEA, CFA Institute sign MoU to raise skills in investment management sector
The African Securities Exchanges Association (ASEA) has signed a two year Memorandum of Understanding (MoU) with CFA Institute to increase access to the professional education programs and standards of professionalism within the ASEA community’s jurisdictions.
Business Hilights gathered that the ASEA is the Premier Association of the twenty-seven (27) securities exchanges in Africa who have come together with the aim of developing Member Exchanges and providing a platform for networking. ASEA was established in 1993 and works closely with its Members to unlock the potential of the African Capital Markets.
The vision of the group is to enable African Securities Exchanges to be key significant drivers of the economic and societal transformation of the year 2025.
Parts of the mission include to provide a forum for mutual communication, exchange of information, co-operation and technical assistance among its members; and to facilitate the process of financial integration within the region for the effective mobilization of capital to accelerate economic development of Africa.
CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion for ethical behavior in investment markets and a respected source of knowledge in the global financial community. The end goal: to create an environment where investors’ interests come first, markets function at their best, and economies grow.
CFA Institute has more than 150,000 members in 166 countries and territories, including 144,000 charterholders, and 148 member societies.
According to the new understanding, CFA Institute will extend its suite of educational offerings to ASEA member exchanges, regulators, brokerage firms and any other capital market stakeholder within the ASEA member exchanges’ jurisdictions, at discounted rates.
CFA Institute Investment Foundations™ certificate: the program covers the essentials of finance, ethics, and investment roles, providing a clear understanding of the global investment industry –
USD 200 per examination.
CFA Program Scholarship: eligible candidates can enroll in the CFA Program to begin earning the Chartered Financial Analyst® (CFA) credential; the most respected and recognized investment management designation in the world – USD 350 per examination
Certificate in Investment Performance Measurement Program (CIPM): for advanced, globally relevant, and practice-based investment performance and risk evaluation skills which enable professionals to put clients’ interests first – USD 350 per examination.
According to Mr. Oscar Onyema, chief executive of the Nigerian Stock Exchange (NSE), “This new partnership with CFA Institute complements our strategic objectives and we are delighted to be working together for the mutual benefit of our organizations, by providing capital markets stakeholders on our continent with the skills and tools they need for sound investment management and ethical practices. The more we promote proficiency and ethics in our markets, the more African markets will be attractive to investors.”
Paul Smith, CFA, President and CEO of CFA Institute replied saying “This MoU is our first significant step towards beginning to invest more meaningfully in Africa. By bringing our programs to the ASEA community, we hope to enable employees to train and capacity-build for Africa and contribute to the development of its financial markets.”