Wednesday, 13 December 2017

Experts Discuss Future of Finance and Business in Africa at First ACCA Convention

The first ever ACCA (the Association of Chartered Certified Accountants) Africa Members' Convention was held in Addis Ababa, Ethiopia, 6-8 December. The three-day event's theme centered on: "The impact of socio-economic trends on the future of finance and business in Africa".



The inaugural event saw significant and relevant issues facing the accountancy profession being discussed. Several influential and renowned finance and business leaders from across the continent were in attendance, including; Ambassador Mumba S. Kapumpa (Corporate Governance Expert, Zambia), Prof. Nii Quaynor, the father of the internet in Africa, Dr. Nigel Chanakira, Chairman Success Motivation Institute, Walter Muwandi, CEO CCG Systems, South Africa, Daniel Asapokhai, Executive Secretary, CEO of the Financial Reporting Council of Nigeria, Prof. Patrick Lumumba and South African public speaker - Vusi Thembekwayo amongst many others.

The ACCA President, Leo Lee and other council members were in attendance along with over 750 ACCA members from 31 countries. The highlight of the 3-day conference was the unveiling of the Member Wall to commemorate ACCA reaching a milestone of 200,000 members worldwide.

Jamil Ampomah, director of ACCA Sub-Saharan Africa remarked, "I am delighted that the ACCA Africa Member Convention was able to bring together the best and brightest of the African accountancy profession. This conference was a fantastic opportunity for finance professionals to share their insights and discuss the topical issues they face.

In times of change globally, which we are certainly seeing now, it is important for local and regional communities to come together and forge a positive and sustainable future. By addressing the future role and relevance of accountancy and finance in Africa, this event has enabled ACCA demonstrate its membership capacity, strength and expansive network across Africa and globally".

The ACCA Africa Members' Convention addressed critical issues on the future role and relevance of the professional accountant in Africa, the impact of the shifting paradigms of social expectations and the economic focus supported by rapid digital transformation. Some of the topics discussed at the convention included: Innovation and the role of the accountant in the fourth industrial revolution, Ethics in a digital world; Managing and navigating the new economy; and the future of the profession: opportunities across Africa.

Also discussed was ACCA's groundbreaking research, "Professional Accountants- the future series", which highlights digital transformation as a major driver of change impacting business, finance and the accounting profession over the next decade. Delegates agreed that a key aspect of promoting the industry is to understand the increasing expectations of stakeholders, and develop effective approaches and systems to deliver real value to them. 

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