In a bid to cultivate a culture of professionalism, ensure minimum competencies and boost industry standards, practitioners working in the capital markets space will now be required to undertake a professional course.
This follows a recent move by the Capital Markets Authority (CMA) to introduce a chartered certification programme.
As part of the implementation of Uganda’s ten-year Capital Markets Development master plan, CMA, in partnership with the UK-based Chartered Institute of Securities and Investments (CISI), have rolled out a certification course which will see staff of intermediary firms obtain a minimum level of qualifications if they are to practice within the industry.
“Enhancing the quality of intermediation in Uganda’s capital markets is critical to successful implementation of Uganda’s transformative Capital Markets Development Master Plan”, said Keith Kalyegira, the CMA chief executive officer.
While officiating at the launch, Finance minister Matia Kasaija said government is committed to increasing productivity of labour through aligning and building the skills necessary in the job market.
“Government is cognizant of the fact that fostering the development of capital markets can be a strong spur for economic growth. Deep, vibrant capital markets are essential for a thriving private sector that creates jobs and enables the economy to achieve its full potential”, he said.
Kasaija also acknowledged the support from the Financial Sector Deepening Africa (FSDA) in facilitating the pilot programme which was launched in 2015, and the eventual roll out.
In 2016, 28 participants (including staff of CMA, the exchange and brokerage firms) took part in the pilot phase for the International Introduction to Securities and Investments (Africa).