ICMA launches a scholarship programme

 

ICMA, the global trade body that represents the international capital markets, is offering 25 scholarships in 2021 to individuals from countries in Sub-Saharan Africa who are unable to pursue a financial qualification due to their economic circumstances as part of ICMA's mission to raise standards and support inclusion in financial markets.

The scholarships provide an opportunity to study for one of the ICMA Diplomas, namely:
  • ICMA Diploma in Debt Capital Markets
  • ICMA Diploma Securities & Derivatives
  • ICMA Diploma in Financial Market Operations
Each diploma pathway includes taking the prescribed foundation and advanced level courses along with two specialist courses and/or ICMA workshops. This executive education programme is delivered in partnership with the ICMA Centre, Henley Business School, University of Reading.

These diplomas are internationally recognised qualifications taught by experienced market professionals which can kick-start a career in financial markets.

The scholarships will be available to young people who are interested in a career in finance from the following countries in Sub-Saharan Africa: Ghana, Kenya, Uganda, Zambia, Rwanda, Tanzania, Zimbabwe, Nigeria and South Africa.

In collaboration with the development agency Frontclear, ICMA has been active in the aforementioned jurisdictions in terms of capacity building to assist in the development of their respective capital markets.

All the courses which make up the diplomas can be studied online over 12 months as a mix of self- study and virtual classroom programmes, and they include online exams. The ICMA scholarship will fully cover the course and examination fees for the relevant Diploma.
 
A good level of education (but not necessarily a University degree), interest in financial markets and proficiency in English are necessary application criteria. Candidates may be in full-time education, working in finance already or looking to move into it.

We would like to encourage ICMA members and academic institutions to share this information with students who may wish to apply.

Eligibility criteria:
  • Open to all citizens of Ghana, Kenya, Uganda, Zambia, Rwanda, Tanzania, Zimbabwe, Nigeria and South Africa;
  • Candidates must be between 19 and 30 years old at time of application;
  • Good level of education (not necessarily a University degree).
To start the process potential students must submit all of the following:
  1. a 500-word statement explaining their background, career plans, and why they should qualify for a scholarship;
  2. a Curriculum Vitae including your nationality and country of residence, full contact details;
  3. academic records and evidence of educational attainment;
  4. two reference letters including contact details of the persons providing them.
ICMA will be unable to consider applications that do not provide all of the four requirements listed above.

Applications must be submitted to scholarships@icmagroup.org
ICMA will confirm receipt of all complete submissions.

Deadline for submissions is January 30, 2021 for the 2021 scholarship programme.

About the selection process:
  • Candidates must meet the eligibility criteria;
  • A panel of ICMA staff will shortlist and make the final selection;
  • Selection is based on a number of factors, including academic merit, evidence of interest in financial markets, financial need, among others.
Scholarship outcomes:
  • Scholarship selection will take place in February 2021 and shortlisted candidates may be called in for a further interview (to be conducted virtually);
  • Announcements of successful recipients will be made by March 1, 2021.If you have not heard from us by this date, then please assume that you have been unsuccessful. We will be unable to contact unsuccessful applicants individually or provide feedback.
Successful recipients must complete the programme within 12 months of commencing their first course.

In addition, candidates must pass the exams for the foundation and advanced courses in order to move forward with the programme, failure to do so will invalidate the scholarship. ICMA will only cover exam fees once for each level.

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