Money Markets
Africa’s demand for chartered financial analysts on the rise
CFA graduates said there were no shortcuts, adding that consistent reading was the only route to success. Photo/ANTHONY OMUNYA
Posted Friday, September 3 2010 at 00:00
Rising demand for talent in Africa’s capital markets is pushing students to pursue the Chartered Financial Analyst (CFA) qualification.
The number of students enrolled for the June CFA exams in Africa increased 13 per cent to 4,275 from 3,776 last year.
In Kenya the sector has created demand for market researchers, analysts and investment bankers sparking talent wars.
The wars are bound to become more pronounced as large firms such as Old Mutual have recently acquired seats on the Nairobi Stock Exchange.
As a result, individuals working in the investment sector are positioning themselves for opportunities by enrolling for CFA qualifications.
“Overall, African interest in the CFA programme is growing” said Steve Wellard, a representative of the CFA Institute in London.
He said 427 Kenyans had enrolled for the exams.
CFA certificate holders are employed by investment companies, mutual funds, brokers, and investment banks as portfolio managers, research analysts, consultants, risk managers, financial advisors, financial analysts and investment bank analysts.
But even as demand for the course rises, less than half of the candidates who sit for the exams pass.
Announcing this year’s Level III results, the CFA Institute said that 42 per cent of the 111,731 candidates worldwide passed this year’s exams.
“While pass rates in the last decade are lower, there is a much larger pool of candidates pursuing the designation and today’s capital markets are more complex,” said Tom Robinson, a certificate holder and managing director of education at the CFA Institute.
High level
“Investment professionals need a high level of proficiency to practice in today’s environment, and this is reflected in the rigorous standard-setting process,” he added.
The organisation, which governs investment professionals around the world, said that Levels I, II and III global pass rates were 42, 39 and 46 per cent respectively.
The institute also said that enrolment worldwide went up 11 and 10 per cent for Levels II and III respectively.
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RSS