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Here we speak to Welcome Mavingire, CFA, President, Investment Professionals Association of Zimbabwe, about what he hopes to achieve by establishing a CFA Society in Zimbabwe and the challenges to developing strong capital markets in Africa.
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Q. Why do you want to establish a CFA Society in Zimbabwe?
The number of CFA charterholders and candidates in Zimbabwe has grown significantly over the past 10 years and warrants the establishment of a local CFA Society. Once formed, the Society can become the voice of the investment profession and help to resolve some of the unique challenges facing the country.
Q. What do you hope your organisation will achieve in your local market in the next five to 10 years?
We hope to not only create a voice for the profession but also market the CFA program to all upcoming and aspiring investment professionals. This will also enhance the CFA brand recognition, particularly in less developed countries such as Zimbabwe.
Q. What do you see as the challenges to developing strong capital markets in Africa?
The major challenges hindering growth of capital markets in Africa include unfavourable and inconsistent government policies, lack of financial deepening, as well as lack of adequate regulation, which results in market manipulation, price rigging and insider trading. Flight of skills from Africa to advanced economies has also worsened the problems.
Q. What are the benefits of volunteering your time?
I get the satisfaction of contributing to the development and growth of the investment profession in my country, as well as being in a position to influence policy direction. In the process, I also get the recognition and earn respect from policy-makers and the general public.
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