In a first for Africa, the Faculty of Commerce launched the African Institute of Financial Markets and Risk Management (AIFMRM) in January 2014, a unique academic institute that will conduct research and deliver education and training in financial markets and risk management.
“In the 21st century‚ capacity for situation-specific innovation in financial markets and risk management will be among the core determinants of which emerging markets graduate to mature development and which remain mired in middle-income traps,” commented the dean of the Faculty of Commerce‚ Professor Don Ross, at the launch. “AIFMRM’s establishment improves the prognosis in this area.”
Founding sponsors of the institute are FirstRand Ltd‚ Barclays Africa Group‚ Liberty Holdings Ltd and the Western Cape Government’s Department of Economic Development and Tourism.
The unit will be headed up by Associate Professor David Taylor, who said that the institute was specifically focused on two key areas. One was transforming the profile of quantitative finance‚ risk management‚ insurance and banking professionals. The other was ensuring that a steady and sustainable pipeline of African university graduates with sophisticated knowledge in banking‚ insurance‚ risk management and quantitative finance exists on the continent.