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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

Heart diseases a time bomb in Africa, says UFS expert
2010-05-17

 Prof. Francis Smit

There are a lot of cardiac problems in Africa. Sub-Saharan Africa is home to the largest population of rheumatic heart disease patients in the world and therefore hosts the largest rheumatic heart valve population in the world. They are more than one million, compared to 33 000 in the whole of the industrialised world, says Prof. Francis Smit, Head of the Department of Cardiothoracic Surgery at the Faculty of Health Sciences at the University of the Free State (UFS).

He delivered an inaugural lecture on the topic Cardiothoracic Surgery: Complex simplicity, or simple complexity?

“We are also sitting on a time bomb of ischemic heart disease with the WHO (World Health Organisation) estimating that CAD (coronary artery disease) will become the number-one killer in our region by 2020. HIV/Aids is expected to go down to number 7.”

Very little is done about it. There is neither a clear nor coordinated programme to address this expected epidemic and CAD is regarded as an expensive disease, confined to Caucasians in the industrialised world. “We are ignoring alarming statistics about incidences of adult obesity, diabetes and endemic hypertension in our black population and a rising incidence of coronary artery interventions and incidents in our indigenous population,” Prof. Smit says.

Outside South Africa – with 44 units – very few units (about seven) perform low volumes of basic cardiac surgery. The South African units at all academic institutions are under severe threat and about 70% of cardiac procedures are performed in the private sector.

He says the main challenge in Africa has become sustainability, which needs to be addressed through education. Cardiothoracic surgery must become part of everyday surgery in Africa through alternative education programmes. That will make this specialty relevant at all levels of healthcare and it must be involved in resource allocation to medicine in general and cardiothoracic surgery specifically.

The African surgeon should make the maximum impact at the lowest possible cost to as many people in a society as possible. “Our training in fields like intensive care and insight into pulmonology, gastroenterology and cardiology give us the possibility of expanding our roles in African medicine. We must also remember that we are trained physicians as well.

“Should people die or suffer tremendously while we can train a group of surgical specialists or retraining general surgeons to expand our impact on cardiothoracic disease in Africa using available technology maybe more creatively? We have made great progress in establishing an African School for Cardiothoracic Surgery.”

Prof. Smit also highlighted the role of the annual Hannes Meyer National Registrar Symposium that culminated in having an eight-strong international panel sponsored by the ICC of EACTS to present a scientific course as well as advanced surgical techniques in conjunction with the Hannes Meyer Symposium in 2010.

Prof. Smit says South Africa is fast becoming the driving force in cardiothoracic surgery in Africa. South Africa is the only country that has the knowledge, technology and skills base to act as the springboard for the development of cardiothoracic surgery in Africa.

South Africa, however, is experiencing its own problems. Mortality has doubled in the years from 1997 to 2005 and half the population in the Free State dies between 40 to 44 years of age.

“If we do not need health professionals to determine the quality and quantity of service delivery to the population and do not want to involve them in this process, we can get rid of them, but then the political leaders making that decision must accept responsibility for the clinical outcomes and life expectancies of their fellow citizens.

“We surely cannot expect to impose the same medical legal principles on professionals working in unsafe hospitals and who have complained and made authorities aware of these conditions than upon those working in functional institutions. Either fixes the institutions or indemnifies medical personnel working in these conditions and defends the decision publicly.

“Why do I have to choose the three out of four patients that cannot have a lifesaving operation and will have to die on their own while the system pretends to deliver treatment to all?”

Prof. Smit says developing a service package with guidelines in the public domain will go a long way towards addressing this issue. It is also about time that we have to admit that things are simply not the same. Standards are deteriorating and training outcomes are or will be affected.

The people who make decisions that affect healthcare service delivery and outcomes, the quality of training platforms and research, in a word, the future of South African medicine, firstly need rules and boundaries. He also suggested that maybe the government should develop health policy in the public domain and then outsource healthcare delivery to people who can actually deliver including thousands of experts employed but ignored by the State at present.

“It is time that we all have to accept our responsibilities at all levels… and act decisively on matters that will determine the quality and quantity of medical care for this and future generations in South Africa and Africa. Time is running out,” Prof. Smit says.
 

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