African capital markets stakeholders unite on professionalism, certification standards

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United Bank for Africa

African capital markets stakeholders comprising of the African Securities Exchanges Association (ASEA) and the Chartered Institute for Securities & Investment (CISI) have signed a Memorandum of Understanding (MoU) to provide an effective framework to develop a common certification programme across the 26 ASEA Member Exchanges.

The aim of the partnership is to promote professionalism and develop channels for capacity building and knowledge sharing to support the growth of the capital markets industry in Africa. ASEA and CISI are expected to work together to provide a common certification framework for ASEA members and enabling practitioners to achieve internationally recognised qualifications that are relevant to their jobs.

Speaking on the development, ASEA President and CEO at the Nigerian Stock Exchange (NSE), Oscar Onyema, said: “We are pleased to welcome the Chartered Institute for Securities & Investment as an Associate member of ASEA. One of the focus areas of my Presidency of ASEA is human resources development across member exchanges.

“I believe that trained practitioners and trusted individuals are key to boosting professionalism, and in turn enhancing the attractiveness of Africa as an investment destination. We look forward to working with the CISI and benefitting from their international footprint and globally portable qualifications,” he pointed out.

Global Business Director at the CISI, Kevin Moore said CISI is delighted to have become part of the ASEA membership and to be able to offer its experience to introduce internationally recognised qualifications and certification.

The CISI, he added, has been working internationally for 10 years and in Africa for three years. During this time, he said the institute has supported the demand across the region to grow the financial services profession, to standardise the entry requirements by introducing certification and licensing and also realign professional and labour skills.

ASEA is the premier association of 26 securities exchanges in Africa and aims to develops, enhances global competitiveness of Member Exchanges and provide a platform for networking and exchange of information.

The CISI is a not-for-profit educational organisation which emerged from the London Stock Exchange almost 25 years ago. It currently employs 125 professionals and has over 700 industry volunteers to its credit. The Institute operates globally, with its headquarters in London. In the last 12 months, over 40,000 CISI qualifications have been taken in over 75 countries and over 40,000 people are individual members.