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UCT launches R30m financial and risk skills institute

Western Cape Department of Economic Development and Tourism head Alan Winde

Western Cape Department of Economic Development and Tourism head Alan Winde

Photo by Duane Daws

30th January 2014

By: Schalk Burger

Creamer Media Senior Deputy Editor

  

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The University of Cape Town (UCT) announced its new R30-million financial markets and risk management institute to provide postgraduate financial skills development and industry relevant research for large South African and African companies on Wednesday.

UCT Dean of Commerce Professor Don Ross noted that close partnerships between the university, Barclays Africa Group, Liberty, FirstRand and the Western Cape government formed the basis for research and training at the institute.

The African Institute of Financial Markets and Risk Management was aimed at developing high-level skills to address current issues relevant to financial services and enabling situation-specific innovation in financial markets and risk management.

Founding director of the institute Professor David Taylor said its purpose was to improve the depth of expertise of financial and risk management postgraduate professionals and to enable these professionals to have an immediate positive impact in the companies they join.

"Industry collaboration is the foundation of the activity of the institute and is crucial to ensuring that education and research are aligned with the needs of the sector."

Western Cape Finance, Economic Development and Tourism Minister Alan Winde said the institute's additional focus on understanding African financial market idiosyncrasies would become a critical lever in positioning the region as the authoritative hub in African financial market intelligence.

Liberty business unit LibFin CE Giles Heeger said: "Our aim is to see students complete their tertiary education with a well-rounded view of financial services and the practical tools to make a meaningful impact in this area."

FirstRand chief risk officer Jaco Grobler added that “building a pipeline of scarce but critical skills” was fundamental to the future sustainability of both the financial services industry and the economy as a whole.

Edited by Tracy Klückow
Creamer Media Contributing Editor

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