Helping emerging economies strengthen as they grow internationally begins with providing high-standard education and training.
The ACT fully recognises this responsibility which is why, through the ACT Educational Trust Bursary Scheme, we offer bursaries for treasury qualifications to students from lower-income economies (as denoted by the World Bank). This is a positive step towards bridging the skill gaps between all communities across the globe and bringing countries closer together. Part of the problem hindering international development is that gaining globally recognised qualifications, whilst being a real step to success, can be a financial challenge. In some cases, developed economy prices are an obstacle impossible to overcome for citizens from lower-income countries who simply cannot afford the fees. For this reason, the ACT team work hard to ensure that the scheme is well promoted and easily available to those eligible and who wish to apply.
Paul Reynolds, Director of Business Development in Africa for Inchscape, has been working with Ethiopian organisations to encourage them to put their employers through the ACT Bursary scheme. Paul explains:
Treasury is – at best – a young, under-developed profession in Ethiopia. In fairness to the private sector, the regulatory environment to date constrains the value even the most able treasurer might deliver to shareholders. But this will change, and recent policy announcements suggest that this might change sooner rather than later; and certainly, the private sector looks forward to this. As a strategic imperative, therefore, Ethiopian companies, Directors, CEOs and senior finance professionals must prepare. In time, as with other countries, most companies of any stature will need a professional treasurer to compete, both domestically and internationally and all enterprises will see the competitive advantage it confers.
Once students become ACT qualified, they acquire an internationally recognised qualification and with the knowledge gained these professionals are instantly able to apply new skills to their jobs. This has a beneficial impact on their local economy and financial market thus paving the way for the developing country to gain international economic weight and recognition. Since 2015, through the Bursary scheme, 95 students have become ACT qualified.
Joel Kunda from Zambia who recently completed Certificate in Treasury Fundamentals (CertTF) has said:
Thank you ACT for giving me this knowledge. My country, Zambia, has issued some EURO bonds, when I am reading financial journals and reading about our bonds being downgraded, ratings going into B- I fully understand this and the repercussions on our economy because this is what I have studied in CertTF.
Students: To find out more about the eligibility requirements, apply for a bursary and enroll onto our qualifications, please click here.
Donate: We welcome donations to the ACT Educational Trust Bursary Scheme. For more details, please click here.