Capital Markets Association of Malawi has advised chartered financial analysts (CFAs) to be a vessel that propels the country into a middle-income economy through provision of essential financial advice that benefits the people.
Speaking on Thursday in Blantyre during a reception cocktail for 10 CFAs organised by CFA Malawi Chapter, the association’s president John Kamanga said the financial market relies on professionals to provide advice to the investing community in terms of valuation, reporting and analysis.
He said: “Investment is a challenging area which requires someone with expertise to give you proper direction on where to invest, when to invest and how you can invest.
“The fact that we have these professionals in our country which are around 60, including candidates, we are upbeat that these will be the light by upholding the profession in terms of ethics and integrity.”
Kamanga, who is also Malawi Stock Exchange chief executive officer, said the CFAs should not just punch figures of the stocks on the market to realise good returns for investors or portfolio funds under management, but get the majority of the Malawians out of poverty.
He said the development is also a good signal to the investors outside the country as they would know that they have professionals to provide information and advice regarding which areas to invest in.
CFA Society of South Africa board member Thomas Chataika said it is important to have qualified chartered financial analysts to help grow various aspects of the financial sector, including capital markets and the economy.
“It is a powerful qualification and a seal of approval in the financial sector that enables us to effectively give advice on financials from a global perspective,” he said.
The CFA programme is a world-class qualification for investment and financial professionals.
Currently, Malawi has about 60 CFAs, including candidates.
In February this year, CFA Society South Africa opened a testing centre in Blantyre to facilitate easier access to CFA candidates in Malawi to complete examinations.
CFA Society South Africa is an association of investment professionals in South Africa and the Southern African Development Community.