(JOHANNESBURG) 13 March, 2018 – South African youth will have an opportunity to develop the critical finance and business skills needed to boost employability through a new partnership between the Chartered Institute of Management Accountants (CIMA) and Monash South Africa (MSA). Recently, the two institutions entered into an agreement to extend CIMA’s Certificate in Business Accounting (CIMA’s entry-level qualification) to next generation finance professionals.
Today, in South Africa, there are more matriculants who are not employed or in higher education facilities than ever before. With the youth unemployment towering at 27%, this partnership aims to influence the education and employment landscape in a positive way. The CIMA Cert BA qualification will equip young people with the skills and competencies required for a job in accounting or finance, or to start their own business and participate constructively in the economy.
The Cert BA qualification is considered a stepping stone for a career in business and finance, helping students develop skills in accounting, management accounting, and core business principles. It is also a formal entry route into the CIMA professional qualification, recognised by employers worldwide. After successfully completing the Cert BA and the CIMA Professional qualification, students may apply for the Chartered Global Management Accountant (CGMA) designation, which distinguishes more than 150,000 management accountants worldwide who have reached the highest benchmark of competency.
The partnership between CIMA and MSA is a continuation of CIMA’s efforts to reskill finance professionals to meet the needs of an evolving world. Backed by the strength of the Association of International Certified Professional Accountants (The Association), the new global organisation formed by CIMA and the American Institute of CPAs (AICPA), CIMA is working to deliver finance professionals with the education and resources they need to go beyond for the future.
The Association’s Dr. Sara Bux, Associate Director, Southern Africa, believes the partnership will positively impact South African society:
“The partnership between CIMA and MSA is a significant one in the South African education landscape. It is expected to influence the employability of young South Africans and build capability through the promotion of a highly relevant educational qualification. Through such capability, these young people can become positive contributors to society, either through participation in the formal industry sector or through participation in a new narrative around job creation.”
Prof. Alwyn Louw, President of Monash South Africa had this to say of the collaboration: “MSA is excited about its relationship with CIMA because it gives expression to its philosophy that partnerships between Higher Education, professional bodies and industry provide excellent opportunities to enhance relevant and quality learning opportunities and experiences for students. Through its commitment to excellence and supporting students to achieve their full potential, this partnership has the potential to add significantly to the body of professionals in the management accounting environment. We will therefore continue to innovate on the basis of the existing excellent curriculum and learning processes to enhance our capacity and make opportunities accessible to as many students as possible, while we will maintain a learning environment that will optimise the learning experience of our students towards success”.
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