The Chartered Financial Analysts society of East Africa graduated 11 Ugandans at the end of a two-day CFA conference held on 26th and 27th April 2023, in Kampala. Chartered Financial Analysts assist clients to make investment decisions, invest their money and provide services to enhance financial markets, these services can include trading, asset management, constructing and management of investment portfolios and funds.

Speaking at the conference, Martin Anthony Nsubuga, the URBRA Chief Executive Officer noted the importance of having more Chartered Financial Analyst professionals in developing the financial services sector in Uganda, “in a developing market like Uganda, we need more professionals to build a reliable and resilient market that can stand the test of time, especially in building the vital investment and fund management arm of the retirement benefits sector, he said ”.

An increase in the number of CFA’s brings to the market a number of other advantages; Enhanced Financial Expertise: Due to the rigorous training and examinations CFA’s undergo to obtain their qualifications, increasing their number in Uganda, means the country would benefit from a larger pool of professionals with advanced knowledge and skills in areas such as financial analysis, investment management, and portfolio evaluation. This can contribute to improved financial decision-making at both individual and institutional levels.

Strengthened Investment Management: CFAs are equipped with a comprehensive understanding of financial markets and investment strategies. With more CFAs in Uganda, there would be an increased capacity to manage investments effectively, leading to better allocation of capital, improved portfolio performance, and potentially higher returns for investors.

Trust and Investor Confidence: The CFA designation is globally recognized and highly respected in the finance industry. A higher number of CFAs in Uganda would foster greater trust and confidence among investors, both domestic and international, in the country’s financial services sector. This can attract more investment inflows, promote economic growth, and contribute to the development of Uganda’s capital markets.

Professional Standards and Ethics: In a country like Uganda that has previously suffered from rogue investment by those entrusted to carry out this role, having professionals(CFA’s) that adhere to a strict code of ethics and professional conduct, which promotes transparency, integrity, and accountability in the financial industry, can foster a culture of professionalism and ethical behavior, which is crucial for maintaining investor trust, preventing or minimizing fraud and ensuring the long-term sustainability of the financial sector.

Knowledge Transfer and Mentorship: An increase in the number of CFA’s in Uganda can facilitate knowledge transfer and mentorship opportunities. Adept CFA’s can share their expertise with aspiring finance professionals in learning institutions like universities, contributing to the development of a skilled workforce in Uganda. This can lead to the growth of a vibrant financial community, nurturing talent and promoting continuous learning and improvement within the financial sector.