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UFS Department of Economics and Finance receives prestigious CFA accreditation

09 March 2022 | Story Leonie Bolleurs | Photo Supplied

Dr Edson Vengeai — Dr Edson Vengesai believes accreditation from and affiliation with the CFA Institute signals to potential students, employers, and the marketplace that the UFS BCom Investment Management and Banking curriculum is well-suited to prepare students for a brighter career in the investment field.

The University of the Free State (UFS) Faculty of Economic and Management Sciences was recently welcomed into the world’s largest association of investment professionals, the CFA Institute University Affiliation Programme. The CFA designation is globally recognised as the gold standard in the investment field.

Accreditation by this respected source of knowledge in investment and portfolio management reflects the rigour and value of the UFS BCom Investment Management and Banking (IMB) degree – housed in the more than a century-old Department of Economics and Finance.

According to Dr Edson Vengesai, Senior Lecturer in the Department of Economics and Finance, the BCom IMB positions students well to obtain the Chartered Financial Analyst (CFA®) charter, which has become the world's most respected and recognised investment credential. Including the UFS, only five universities in South Africa are affiliated to the CFA Institute.

Most respected investment designation

Members who have attained the prestigious designation ‘Chartered Financial Analyst’, hold prominent roles in leading investment firms in financial centres worldwide. “Becoming a charter holder is a defining moment for many investment professionals, which exemplifies a robust understanding of advanced investment analysis and real-world portfolio management skills,” he says.

Dr Vengesai states that with this affiliation from the CFA Institute, the BCom IMB degree has been acknowledged as incorporating at least 70% of the CFA Program Candidate Body of Knowledge (CBOK) within the programme. Moreover, it also places emphasis on the CFA Institute Code of Ethics and Standards of Professional Conduct. He believes preparing graduates who are ethically grounded and ready to execute their duties in an ethical and professional manner is a major necessity in the financial analysis and investment field.

Writing from London in the United Kingdom, Director of University Relations at the CFA Institute, Peter Watkins, states: “The UFS BCom in Investment Management and Banking is a rigorous programme that will be of great benefit to students entering the investment profession.”

Dean of the Faculty of Economic and Management Sciences and Pro-Vice-Chancellor: Poverty, Inequality and Economic Development, Prof Philippe Burger, adds that the accreditation aligns with the faculty’s drive to create opportunities for its students to not only pursue excellence, but also to compare with the best in the industry, locally and on an international basis. He says the BCom in Investment Management and Banking is one of a range of cutting-edge, industry-relevant, and scientifically rigorous degrees offered by the Faculty of Economic and Management Sciences. “Quite a number of the faculty’s programmes are accredited by professional bodies, with accreditation by the CFA being the latest.”

Taking the financial sector to new heights

Through the CFA programme, the UFS will also be eligible to receive CFA Programme Student Scholarships each year, which will contribute to the much-needed skill set of well-grounded financial analysts who can take the financial sector to new heights. “Aligning our degree programme with the CFA curriculum will equip our students with the kind of expertise and real-world skills in investment analysis that will help set them apart from other institutions and peers,” adds Dr Vengesai, who also aims to produce a breed of innovators, critical thinkers, and producers of information.

“The affiliation signals to potential students, employers, and the marketplace that the UFS BCom Investment Management and Banking curriculum is closely tied to professional practices and is well-suited to prepare students for a brighter career in the investment field,” Dr Vengesai concludes.

News Archive

UFS council elects Nwaila and Hancke

2005-03-15

Dr Charles Nwaila, Superintendent-General of Education in the Free State, was elected Vice-chairperson of the UFS Council and Judge Faan Hancke was re-elected as Chairperson today.

According to the Rector and Vice-Chancellor, Prof Frederick Fourie, the election of Dr Nwaila is an important achievement for the UFS as Dr Nwaila is a well known leader in education in the Free State.

Dr Nwaila pledged to work constructively with the UFS council and management to ensure that the UFS benefits all people of the province and the country.

The appointments are valid for a term of three years from 1 June 2005 to 31 May 2008.

The elections took place at the quarterly meeting of the UFS Council where a number of other key transformation steps were approved.

The Council approved a Strategic Plan for the UFS which reflects a renewed focus on transformation of the institution, calling it an important roadmap for the future of the UFS.

According to Prof Fourie, the Strategic Plan tried strike a balance between continuity and change, addressing the need to remain an excellent university in an ever-changing context and environment.

Prof Fourie said transformation had many aspects and dimensions and could not be reduced to an issue of numbers.

The Strategic Plan identifies five strategic priorities and corresponding challenges in the next phase of transformation.

The priorities are:

quality and excellence
equity, diversity and redress
financial sustainability
regional co-operation and engagement.
outward thrust

Prof Fourie said that besides the five strategic priorities the plan also reflected concrete actions and interventions to address them.

He said the renewed focus on transformation is embedded in the priorities and specific actions that are identified.

The Council congratulated the management for the roadmap and for the achievements that have already been achieved in terms of transformation.

In order to draft a comprehensive Transformation Plan that will give substance to certain aspects of the UFS Strategic plan – or roadmap – the Council approved the establishment of a Transformation Plan Team.

The team will consist of about 16 people, which includes the two coordinators, Prof Teuns Verschoor, Vice-Rector: Academic Operations, and Dr Ezekiel Moraka, Vice-Rector: Student Affairs.

According to Prof Verschoor, the team was chosen and approved by the Executive Management earlier for the individual contributions that they could make.

While the individuals do not represent particular constituencies on campus they are a very diverse group of persons in terms of race, gender and various sections of the campus and the satellite campuses.

Prof Fourie, said there was an urgency and importance attached to the work of the Transformation Plan Team.

He said that while the team must produce a plan within a tight deadline, the task must be carried out very well, which could mean different stages in the work of the team.

According to the Rector, the UFS must take the lead in best practice transformation, while not underestimating the complexity of the issues facing the UFS.

The full list of names will be finalized soon.

MEDIA RELEASE
Issued by: Mnr Anton Fisher
Director: Strategic Communication
Cel: 072 207 8334
Tel: (051) 401-2749
11 Maart 2005

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