Kenya: Regulatory Waiver

The Regulator

The Institute of Certified Investment and Financial Analysts (ICIFA) is a regional resource and advocacy body for the investment and finance profession, providing region-wide network and promoting the role of the profession in the fields of investment and financial analysis, pension funds, asset management, corporate finance, investment and finance training, fund management, financial advisory, wealth management, real estate investment, insurance investment advisory, capital markets operations, and investment banking among others.

Requirements to Practice

A person wishing to be registered as a Certified Investment and Financial Analyst shall apply to the Registration Committee as prescribed in Sec 14 of the Investment and Financial Analysts Act (No.13 of 2015). Financial analysts will need to satisfy the requirements as specified in the Act. These include adequate knowledge of Kenyan laws and adequate experience in investment and financial analysis and acceptable professional conduct [Section 16(3)].

The Waiver

KASNEB (the exam body for the CIFA examination) has confirmed that CFA Charterholders will be granted exemptions comprising 16 papers out of 18 papers in total; they will only sit for Papers 6 & 7 of the CIFA exam. Charterholders will have an option of taking both papers as a set (each at its own time according to the examination timetable). There will be no requirement that a candidate must pass one paper before sitting the other paper.

Details of how to register and the documents required can be found on the ICIFA website or email