However, the outlook is increasingly exposed to downside risks, including higher energy prices, tighter financial conditions, and trade disruption linked to ongoing conflicts. In volatile times, business leaders and government departments turn to their finance and accounting professionals for trusted guidance.
Author: Stephen Flatman
This evolving economic environment is reshaping the demands placed on organisations. Governments, businesses and investors are operating amid heightened uncertainty, ongoing regulatory reform, rapid digital transformation, and growing expectations around corporate sustainability. In response, finance teams are being asked to move beyond traditional reporting roles to provide strategic insight, manage complex risks, and support decision‑making that drives performance and long‑term value creation.
Yet as expectations of the finance function rise, skills constraints are becoming increasingly apparent. In countries like Ghana, Kenya, Nigeria and South Africa, shortages of qualified finance and accounting professionals continue to constrain capacity in both the public and private sectors. Africa’s accounting skills deficit is well recognised, particularly in areas such as financial analysis, risk management, auditing, and public finance where demand significantly outstrips supply.
In South Africa, several finance and accounting roles including management accountant, tax professional, external auditor, financial accountant, forensic accountant, and internal auditor appear on the national list of occupations in high demand, a pattern mirrored across many African economies.
Closing this gap requires a rethinking of how the finance and accounting talent is developed. The profession must move beyond traditional technical training towards education that reflects how organisations now operate – complex, data‑driven, technology‑enabled and increasingly expected to make decisions that are commercially sound, resilient, and sustainable over time. Professional bodies have a pivotal role to play in this shift by modernising learning models and widening access to the profession.
The CGMA Professional Qualification – prepared for the future of finance
The Chartered Global Management Accountant (CGMA) Professional Qualification, by The Chartered Institute of Management Accountants (CIMA), is designed with this reality in mind. Rather than focusing solely on traditional finance and accounting competencies, it develops professionals who understand strategy, performance, governance and decision‑making.
To keep pace with the rapid transformation of business, we have moved beyond the traditional, linear model of learning. Instead, we have adopted a spiral curriculum – a dynamic framework that builds and reinforces interrelated skills at every stage of the qualification. This means students do not simply accumulate knowledge level by level – they revisit and deepen their ability to solve increasingly complex business problems and add value as they progress.
From day one, learners begin developing critical thinking, problem-solving, and communication skills – no longer waiting until the final stages of their qualification. As a result, they are equipped to tackle real-world business challenges early in their journey and deliver meaningful value to their employers from the outset, including:
- A future‑ready, strategic mindset – CGMA professionals are trained to support strategic decision‑making, value creation and long‑term performance, skills increasingly demanded by employers across sectors.
- Stronger credibility and employability – the CGMA designation, achieved upon completing the CGMA Professional Qualification and gaining the required experience, is globally recognised, enhancing career mobility, and positioning professionals for leadership, finance partnering and strategy roles.
- Relevance in a technology‑driven environment – the CGMA Professional Qualification develops digital and analytical capabilities, enabling professionals to operate effectively as finance and accounting roles evolve in a world shaped by AI and data.
- The ability to drive sustainable and ethical outcomes – CGMA professionals integrate sustainability, governance, and risk into decision‑making, supporting resilient and responsible organisations.
- Professional confidence and influence – beyond technical expertise, the CGMA Professional Qualification strengthens communication, judgement, and stakeholder influence, enabling CGMA professionals to be high-performance finance business partners and act as trusted advisers.
Developing future‑ready professionals also means widening access to the profession. This is why the CGMA Professional Qualification offers multiple entry points, enabling young people, graduates and career changers to enter the profession and progress based on ambition and capability, not just prior exposure to finance and accounting. School leavers can begin at the Certificate level, while graduates and degree holders are often able to enter directly into the professional levels.
The impact of these capabilities extends beyond individual careers to the organisations and economies they serve. Organisations that employ CGMA professionals also see clear advantages:
- Stronger decision‑making and strategic insight, driven by finance and accounting professionals who connect data to business strategy.
- Finance teams that operate as true business partners, aligned with leadership and operational teams.
- Improved governance, risk management, and organisational resilience, particularly in complex and volatile environments.
- Greater readiness for digital and technological change, including the responsible adoption of AI.
- More sustainable long‑term performance, balancing financial outcomes with broader economic, environmental and societal considerations.
Africa’s growth potential is real, but realising it depends on people as much as it does policy or capital. Without a strong pipeline of skilled, forward‑looking finance and accounting professionals, organisations will struggle to build resilience and create long‑term value. Investing in modern, accessible and globally relevant qualifications is therefore not optional, it is essential to building future-ready organisations that can withstand the test of time and support sustainable growth across the continent.
