Picture: 123RF/DOLGACHOV
Picture: 123RF/DOLGACHOV

CFA Society South Africa is affiliated to the CFA Institute with over 2,000 active society members. It remains the fifth-largest society out of more than 47 in the Europe, the Middle East and Africa (EMEA) region, and the largest in the subregion of Middle East, Africa, Central and Eastern Europe. 

Though an independent body, the society represents the CFA Institute in Southern Africa and thus strives to achieve similar objectives, but adapted to local conditions and based on what is most relevant to the local investment industry and its members. About 12% of its members are based in countries outside SA, specifically Zimbabwe, Botswana, Namibia, Zambia, Malawi and Swaziland, among others.

Enhance the leadership, governance and operational functioning of the society

The society’s multiyear strategic goals continue to evolve to reflect the shift in focus required by its members, the investment industry and society.

The board remains committed to reflect the diversity of its members and the society, through society leadership and volunteer opportunities. It endeavours to continue to lead the investment industry.

Develop future professionals

The CFA Institute has moved its flagship CFA programme to computer-based testing, which has been accelerated due to the global Covid-19 lockdown. December 2020 will be the final exam to be taken in its current form. From 2021, all three levels of exams will be computer-based, with a higher frequency of exam-taking opportunities, and more exam centres expected.

This does not diminish the need for support and development of future professionals, which the society does through university relationships and the direct candidate support programmes, which serve an extended geographic member base across Southern Africa.

Delivering member value

In support of members maintaining their CFA designation, continuing professional development (CPD) is fundamental, and an important value proposition for membership provides guaranteed minimum 18 hours of CPD credits required by the Financial Advisory and Intermediary Services (FAIS) Act. The society does so through a combination of high-quality continuing education programmes and member events offered in collaboration with other industry bodies, to grow its influence through the investment industry and surrounding ecosystem.

Build market integrity

The CFA charter is positioned as the gold standard of ethical and professional excellence, playing an important role in transforming the society into the future we all desire. The society is proud of initiatives to build the integrity of the market, and the profession such as the annual Financial Mail Top Young Analysts Award, where analysts under the age of 30 are recognised and awarded in two categories (equities and non-equities).

The society also continues to focus on working collaboratively with other industry bodies and associations such as ASSA, IRFA, SAVCA, ASISA, ABSIP, CAIA, APFI, FIA, FPI to transform the investment industry to be representative of the society it serves. 

The society has provided responses on behalf of its members to regulator requests for policy discussion documents, including National Treasury’s draft technical paper on “Financing a Sustainable Economy”, and the FSCA discussion document on the categorisation of financial advisers and related matters, and also the local market response to the CFA Institute ESG Disclosure Standard Consultation Paper.

CFA Institute seeks to redefine its role in the global investment industry. Similarly, CFA Society South Africa is faced with the responsibility of serving society from its position of privilege, which it takes seriously.

CFA Society South Africa is delighted to present its 2019/2020 Annual stakeholder report, which showcases how society strives to fulfil its mission. Click here to view.

Be a part of the community and join the society local membership. Click here to join.

This article was paid for by CFA Society South Africa.

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