Fitch Learning, part of the Fitch Group, has announced the launch of its first international Credit Academy in Egypt for the first time, in partnership with Masar, to further enhance the advancement of financial professionals.
In its press statement, Fitch said that the choice of Egypt for launching this academy was for various reasons.
Among those reasons are that Egypt is one of the world’s most promising emerging markets (EMs). This is evident through the recent economic development that resulted from the implementation of its economic reform programme.
It added that the Egyptian government’s ambitious plans have a commitment to foster youth development and career enhancement for Egyptian professionals.
Notably, Fitch Ratings recently upgraded Egypt to a B+/Stable Outlook. The country has made progress in implementing economic and fiscal reforms, which are driving improved macroeconomic stability, fiscal consolidation, and stronger external finances.
The authorities will complete the three-year International Monetary Fund (IMF) Extended Fund Facility (EFF) in 2019. It seems likely that these reforms will continue to generate better economic outcomes beyond the IMF agreement.
Fitch stated that the launch of the first international academy and certification will be offered locally by providing two credit academies in Egypt starting June 2019 for eight consecutive weeks on a full-time basis.
The two academies are geared toward training credit and risk financial professionals in order to better manage credit portfolios for big companies and small and medium-sized enterprises (SMEs) with a global excellence standard.
The learning curriculum provided by Fitch Learning consists of several intensive financial modules: International Accounting Standards, Financial Analysis Techniques, Economic Research Analysis, Financial Valuation, Building Complex Financial Models, International Project Finance, SMEs Financing, Rating Methodologies, Real Estate Financing, Infrastructure and Project Financing, and Global Credit and Financing Structures/Methodologies.
“Fitch Learning will offer these crucial learning initiatives for young professionals who are typically eager to get the international exposure and advance their careers to set them up for bright futures in the global financial services arena. We’re excited to launch these academies to mark the start of Fitch Group’s strong presence in the Egyptian market and Africa,” said Andreas Karaiskos, CEO of Fitch Learning.
Moreover, Chairperson and CEO of Masar, Dalia Khorshid said that the Egyptian market is offering investors an attractive variety of investment opportunities.
“It is important for us that our young professionals not only understand the singularity of operating in this EM, but can also address the complexities of operating in a global market and be able to navigate through the complex financial and economic challenges,” she said.
“The international trust in the Fitch Group’s capabilities and its global presence will enrich the Egyptian financial sector through various ways. The most important of which is supporting Egyptian professionals with the latest international learning programmes,” added Khorshid.