Agence UMOA Titres launches FSD Africa funded-project with the Chartered Institute for Securities and Investment in the WAMU region

  • 27 March, 2019

The agreement will develop a professional certification pathway for capital markets practitioners

Dakar, 25th March 2019: Agence UMOA Titres (AUT) today holds the official launch of a project with international training institute the ‘Chartered Institute for Securities and Investment’ (CISI), funded by FSD Africa. The project, implemented within the West African Monetary Union (WAMU) region, is designed to provide market professionals with access to international-standard training, technical assistance and strategic support, to strengthen capital market development in the WAMU region.

As part of the programme, FSD Africa funded the development of two professional qualifications, adapted and tailored by the Chartered Institute for Securities and Investment, for the eight member states of the WAMU. Today’s event marked the launch of the second of the two qualifications: the ‘Fixed Income Certification’, which is designed to train leaders in financial institutions to increase their technical capacity.

At the launch event, the first cohort of ten regulators who benefited from the ‘Fundamentals to Financial Services’ training programme received their official certifications, which will allow them to develop investment instruments that facilitate better liquidity of long-term investments and enable underserved market segments, such as SMEs, to access appropriate finance.

As an on-going part of the programme, FSD Africa is supporting Agence UMOA-Titres by providing technical assistance to support the issuance and management of public debt securities within the WAMU. In addition, funding from the project has supported the development of a 5-year strategic plan, designed to better equip the AUT to serve the eight regional treasuries more effectively.

At the event, attendees discussed the next phase of the programme; which will support the establishment of a regional debt management system that will assist in effective decision-making regarding member states debt-management and to significantly decrease operational risk.

 

Evans Osano, Director of Financial Markets at FSD Africa commented: “We are delighted to see the official launch of the CISI programme in the WAMU region. The Partnership with a globally renowned training institute and AUT – a regional center of excellence in sovereign debt management, will not only build much-needed capacity in the capital markets within the WAMU region but also will position the region as a trusted investment destination”.