NAIROBI (Xinhua) -- Investment analysts in Kenya will be regulated under a new proposed law as the country readies itself for several mega projects.

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1 1 Coast Week Kenya to improve profile of investment analysts NAIROBI (Xinhua) -- Investment analysts in Kenya will be regulated under a new proposed law as the country readies itself for several mega projects. The proposed law is also expected to facilitate formal recognition of investment analysts, enabling them to acquire skills and certifications that will enable them work across the world. The proposed law is known as the Draft Certified Securities and Investment Analysis (CSIA) Bill will be presented in the Kenya parliament for debate in the second week of December. The institute will ensure that investment decisions are made on the basis of timely and reliable financial information, said the Chairman of the Institute of Certified Securities and Investments Analysts (ICSIA) Lazarus Kimang a. The Bill seeks to establish ICSIA as a self regulating professional institute in Kenya. It will also facilitate formal of the internationally recognized CSIA professional qualification and a self-regulating professional institute in Kenya will redress that imbalance in the jobs market. The Bill seeks to address the challenges of investment in Kenya that include corruption, impunity, high costs of doing business, technology transfer risks, trends of peace instability, policy inconsistencies among others. It seeks to avert the mentioned challenges by paving way for the much needed qualified, skilled personnel in the investment arena and better collaboration among them so as to realize our development goals, said Kamang a. Kenya is expecting an avalanche of investments both private and public driven by the growing economy, expanding middle class and the discovery of natural resources. The country has already discovered commercially viable oil deposits. It has also planned mega projects in exploitation of geothermal power. The Lamu Port and associated projects of a pipeline, a railway, two resort cities and a road all crossing over to Ethiopia and South Sudan are other major projects expected in the coming year. Investment analysts will also play a crucial role in the development of the capital markets. As the Kenyan capital markets deepen, there is a growing need to have professionals to manage the new products being introduced in the market and to expand the uptake of the products, said Kimang a. Kenya is also expecting further investment projects planned under the development blueprint of the Vision 2030 that seeks to transform the country into a middle income status by the year 2030.

2 None of the above projects will be achieved without the analysts who will need to create reports on the prospective investment and finding avenues, develop the financial models and recommendations and participate in negotiations and project management, said Terry Adembesa, Product Development Manager at the Nairobi Securities Exchange (NSE). She said the investing community and by large the public will require to be provided with an independent and expert assessment of the company or projects and their future prospects. The Bill is also expected to contribute in the development of the country s financial sector, the fastest growing services sector in the country, according to the Central Bank of Kenya. The Bill is however not expected to become a law until next year as the current parliamentary term is about to end ahead of the March 2013 general elections. 2 The People News Paper Experts Warn of Capital Flight From US, Europe The Nairobi Securities Exchange. Experts say the level of sophistication of financial markets must be addressed to factor in risk mitigation products. Photo: BERNARD ORWONGO By GEORGE KEBASO Wednesday, 5 December, 2012 African Capital markets told to brace themselves for capital from two continents that are currently in crisis. Local stakeholders in the equity market have called on African capital markets to be wary of a possible capital flight to Africa in the wake of the economic crisis in the US and Europe. During a recent stakeholders meeting in Nairobi to discuss the Draft Certified Securities and Investment Analysis (CSIA) Bill, they called on African Capital Markets to be alert of such an eventuality. There is no doubt, the economic challenges the West is currently facing will likely lead to a capital flight into Africa on unprecedented scale in search of better return on investment. There is

3 therefore, an urgent need for African capital markets to quickly deepen their financial markets in readiness for this eventuality, said members of the Governing Council of Institute of Certified Securities and Investments Analysts in Kenya (ICSIA). The meeting held last week in Nairobi was addressed by among others, ICSIA Chairman, Lazarus Kimang a, the institution s Secretary, Peter Kegode, his deputy, Michael Odiembo, Kenya Investment Authority representative David Mugambi and Terry Adembesa from Nairobi Securities Exchange. Africa is experiencing notable growth driven by the new discoveries of natural resources, great investment in infrastructure and a fast-growing middle class; all making it more alluring to the foreign investor. Germany already has shown a lot of interest as it battles with China, Europe and the US. The country s Africa Strategy paper seeks to promote broad-based economic growth through a dynamic private sector that promotes economic interaction with Africa by facilitating trade and investment. Financial savvy Kimang a said the level of sophistication of financial markets must be addressed to factor in risk mitigation products, including derivatives, future and option platforms. The ability to manage risk is of utmost importance to investors thus, ICSIA is focused on developing and equipping students and professionals in financial sectors in Africa with skill sets that will make them relevant in the new and emerging financial savvy Africa, he said. 3 TradeInvest Cape Town Kenya: Developing a Talent Pipeline for Financial and Investment Analysts in Kenya 16 August 2012 The Institute of Certified Securities and Investment Analysts (ICSIA) is the association of professionals in Kenya's financial and capital markets industries. Registered under the Societies Act, ICSIA supports and advances the profession of financial analysts and investment management through: - Developing a globally recognised certification programme for Securities and Investment Analyst (CSIA) designation - Organising meetings and seminars on a regular basis to contribute to the professional development of its members - Harmonisation of regional financial regulatory regimes - Providing regional and global networking and placement opportunities for its members

4 - Developing standards of professional excellence and integrity for members - Providing Leadership in advocacy for financial and investment sectors - Enhance dialogue between key players in the financial markets - Provide an environment for improved governance in financial markets Role of developing a talent pipeline ICSIA provides highly skilled professionals that are rated highly for their expertise in financial and capital market operations, financial analysis, investment and securities, retirement benefits and investment banking industries. Membership and code of conduct The Institute operates a code of conduct that regulates the behavior of its members. There are five categories of ICSIA membership: - Student members - Associate members - Full members - Fellow - Honorary fellows ICSIA professional memberships - Association of Certified International Investment Analysts (ACIIA): The international umbrella organisation comprising national and regional associations of investment professionals that award the Certified International Investment Analysts (CIIAA) designations. - Association of Professional Societies of East Africa (APSEA): APSEA enables ICSIA to undertake research and advocacy, and provides a wider forum to promote its interests.

5 4. KASS FM Investment analysts in Kenya will be regulated under a new proposed law as the country readies itself for several mega projects. The proposed law is also expected to facilitate formal recognition of investment analysts, enabling them to acquire skills and certifications that will enable them work across the world. The proposed law is known as the Draft Certified Securities and Investment Analysis (CSIA) Bill will be presented in the Kenya parliament for debate in the second week of December. "The institute will ensure that investment decisions are made on the basis of timely and reliable financial information," said the Chairman of the Institute of Certified Securities and Investments Analysts (ICSIA) Lazarus Kimang'a. The Bill seeks to establish ICSIA as a self regulating professional institute in Kenya. It will also facilitate formal of the internationally recognized CSIA professional qualification and a selfregulating professional institute in Kenya will redress that imbalance in the jobs market. The Bill seeks to address the challenges of investment in Kenya that include corruption, impunity, high costs of doing business, technology transfer risks, trends of peace instability, policy inconsistencies among others. "It seeks to avert the mentioned challenges by paving way for the much needed qualified, skilled personnel in the investment arena and better collaboration among them so as to realize our development goals," said Kamang'a. Kenya is expecting an avalanche of investments both private and public driven by the growing economy, expanding middle class and the discovery of natural resources. The country has already discovered commercially viable oil deposits. It has also planned mega projects in exploitation of geothermal power. The Lamu Port and associated projects of a pipeline, a railway, two resort cities and a road all crossing over to Ethiopia and South Sudan are other major projects expected in the coming year. Investment analysts will also play a crucial role in the development of the capital markets. "As the Kenyan capital markets deepen, there is a growing need to have professionals to manage the new products being introduced in the market and to expand the uptake of the products," said Kimang'a. Kenya is also expecting further investment projects planned under the development blueprint of the Vision 2030 that seeks to transform the country into a middle income status by the year "None of the above projects will be achieved without the analysts who will need to create reports

6 on the prospective investment and finding avenues, develop the financial models and recommendations and participate in negotiations and project management," said Terry Adembesa, Product Development Manager at the Nairobi Securities Exchange (NSE). She said the investing community and by large the public will require to be provided with an independent and expert assessment of the company or projects and their future prospects. The Bill is also expected to contribute in the development of the country's financial sector, the fastest growing services sector in the country, according to the Central Bank of Kenya. The Bill is however not expected to become a law until next year as the current parliamentary term is about to end ahead of the March 2013 general elections. (Xinhua) 5 Atlanta Blackstar Kenya Developing Talent Pipeline for Financial, Capital Markets Industries August 20, 2012 Posted by Stan Tagged With: Africa, financial industry, Kenya, kenya developing talent pipeline, kenya grooming financial service talent The Institute of Certified Securities and Investment Analysts (ICSIA) is the association of professionals in Kenya s financial and capital markets industries. Registered under the Societies Act, ICSIA supports and advances the profession of financial analysts and investment management through: - Developing a globally recognised certification programme for Securities and Investment Analyst (CSIA) designation

7 - Organising meetings and seminars on a regular basis to contribute to the professional development of its members - Harmonisation of regional financial regulatory regimes - Providing regional and global networking and placement opportunities for its members - Developing standards of professional excellence and integrity for members - Providing Leadership in advocacy for financial and investment sectors - Enhance dialogue between key players in the financial markets - Provide an environment for improved governance in financial markets Role of developing a talent pipeline ICSIA provides highly skilled professionals that are rated highly for their expertise in financial and capital market operations, financial analysis, investment and securities, retirement benefits and investment banking industries. Membership and code of conduct The Institute operates a code of conduct that regulates the behavior of its members. There are five categories of ICSIA membership: - Student members - Associate members - Full members - Fellow - Honorary fellows ICSIA professional memberships - Association of Certified International Investment Analysts (ACIIA): The international umbrella organisation comprising national and regional associations of investment professionals that award the Certified International Investment Analysts (CIIAA) designations. - Association of Professional Societies of East Africa (APSEA): APSEA enables ICSIA to undertake research and advocacy, and provides a wider forum to promote its interests. Role in achievement of Vision 2030

8 ICSIA believes that investment in the ICT and telecommunications sectors will be among the keys to achieving the objectives in Kenya s economic blue print, Vision The institute lauds the high-calibre of investment projects that have been conceptualised, and the on-going promotion and facilitative efforts by the government. Financial sustainability in the face of the Euro crisis ICSIA sees the Euro crisis leading to capital flight into Africa on unprecedented scale, as investors search for better returns. Consequently, capital markets in Africa must deepen their financial markets in readiness for this eventuality. The level of sophistication of financial markets must be addressed to factor in risk mitigation products, including derivatives, future and options platforms, as the ability to manage risk is important to investors. ICSIA is focused on developing and equipping students and professionals in financial sectors in Africa with the skill sets that will make them relevant in the emerging Africa. Kevin Moore presenting today to our friends in Nairobi at ICSIA Kenya Regulators Advocacy Breakfast Meeting. pic.twitter.com/h38pyv0p 2:03 AM - 29 Nov 12

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