Namfisa, NUST sign internship agreement
The Namibia Financial Institutions Supervisory Authority (Namfisa) and the Namibia University of Science and Technology (NUST) have signed a memorandum of understanding in which the financial institutions watchdog committed to support students with work-integrated learning opportunities.
The agreement is effective from this month.
“Internships have become a key component at many institutions of higher education,” Namfisa CEO Kenneth Matomola said at the signing ceremony.
The value of internships have grown in reputation over the years for several reasons. They are often considered a win-win situation for students, universities and employers, Matomola said.
“Working alongside a seasoned professional allows students to take on meaningful tasks with real responsibility. Technical competencies are reinforced, analytical skills are improved and the students are able to experience first-hand the constant need for adaptability and creativity required in today’s world.”
Namfisa, in conjunction with the Bank of Namibia (BoN), last year undertook a skills gap study which identified some critical skills needed in the financial sector. Some of these include risk analysts, investment managers, actuaries and market research analysts.
The MoU between Namfisa and NUST focuses explicitly on the area of specific cooperation, which deserves increasing collaborative effort in providing students with a high quality of educational experiences in work-based environments.
NUST’s deputy vice chancellor: academic affairs, Dr Andrew Niikondo said: “We are signing this agreement as a joint statement of intent aimed at improving the scale and value of work-integrated learning so that Namibia can better meet the challenges and opportunities facing our economy and society.”
The agreement is effective from this month.
“Internships have become a key component at many institutions of higher education,” Namfisa CEO Kenneth Matomola said at the signing ceremony.
The value of internships have grown in reputation over the years for several reasons. They are often considered a win-win situation for students, universities and employers, Matomola said.
“Working alongside a seasoned professional allows students to take on meaningful tasks with real responsibility. Technical competencies are reinforced, analytical skills are improved and the students are able to experience first-hand the constant need for adaptability and creativity required in today’s world.”
Namfisa, in conjunction with the Bank of Namibia (BoN), last year undertook a skills gap study which identified some critical skills needed in the financial sector. Some of these include risk analysts, investment managers, actuaries and market research analysts.
The MoU between Namfisa and NUST focuses explicitly on the area of specific cooperation, which deserves increasing collaborative effort in providing students with a high quality of educational experiences in work-based environments.
NUST’s deputy vice chancellor: academic affairs, Dr Andrew Niikondo said: “We are signing this agreement as a joint statement of intent aimed at improving the scale and value of work-integrated learning so that Namibia can better meet the challenges and opportunities facing our economy and society.”
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