CFA Society East Africa, ACCA Uganda partner to accelerate growth in financial sector

The MOU, according to George Jato Otim, board member CFA Society East Africa, seeks to leverage the strengths of both organisations to enhance the investment profession and promote the development of the financial sector in East Africa.

“We are excited to sign this MOU with ACCA Uganda. As the investment management profession continues to evolve, it is important that we work together with other professional bodies to foster collaboration and drive growth in the financial sector,” he said.

The MOU comes ahead of the inaugural Alternative Investments Conference hosted by the CFA Society East Africa on the 26th and 27th of April at the Mestil Kampala Hotel.

The conference which is themed “unlock local capital, transform capital markets,” aims to bring together leading professionals, investors, regulators, and other stakeholders to unlock local capital and transform the capital markets in East Africa.

Otim giving an address during the event Pulse Live Uganda

The event will also host the CFA Society East Africa Charter Award ceremony to recognise outstanding achievements of investment professionals in East Africa.

“This is an exciting development. Working in partnership is the way we do business. Collaborating with the CFA Society East Africa will enhance the agenda to promote innovation and growth in the accountancy, financial and investment management profession. Through this MOU, we shall leverage each other’s expertise and resources for the growth and development of this economy,” said Charlotte Kukunda, Country Manager, ACCA Uganda.

Kukunda while giving an address during the event Pulse Live Uganda

The CFA Society East Africa is a professional association for investment management professionals while ACCA is the world's most forward-thinking professional accountancy body.

Allan Norman Lwetabe, a board member and chairperson Advocacy committee CFA Society East Africa, said the partnership between the two entities will come in handy because there has to be an understanding between accountants and investment professionals who consume accounting information.

“Accountants need to understand how we the investment professionals operate. This is because its us who consume most of the accounting information, they produce so there has to be an understanding between the two,” he said.

Lwetabe also said the forth coming conference is aimed at bringing at the forefront some of the key issues in investment and finance to the authorities.

“There are issues that are beyond our capacity. Issues such as why entrepreneurial businesses don’t last long in Uganda much as we one of the mist entrepreneurial countries in the world. Some of our neighbours have come with ways on how to deal with this such as protecting such enterprises by taxing them less,” he said.