Africa’s economic outlook remains resilient, even as geopolitical tensions and global trade uncertainty continue to create headwinds. According to the African Development Bank, real GDP growth is projected at 4.3 per cent in 2026, up from 4.2 per cent in 2025 and 3.1 per cent in 2024, supported by improving macroeconomic stability and domestic demand in parts of the continent.
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.
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 Nigeria and South Africa, for instance, 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 other 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.
Rather than focusing solely on traditional finance and accounting competencies, it’s incumbent on professional accounting bodies to develop professionals who understand strategy, performance, governance and decision‑making. The Chartered Global Management Accountant Professional Qualification, by The Chartered Institute of Management Accountants, appears to have stolen a march on others with this reality in mind. It has moved beyond the traditional, linear model of learning, adopting a spiral curriculum – a dynamic framework that builds and reinforces interrelated skills at every stage of the qualification. Thus, students are now able to revisit and deepen their ability to solve increasingly complex business problems and add value as they progress. Having developed critical thinking, problem-solving, and communication skills, learners are equipped from the outset to tackle real-world business challenges early in their journey and deliver meaningful value to their employers.
A future‑ready, strategic mindset, relevance in a technology‑driven environment, ability to drive sustainable and ethical outcomes, stronger credibility and employability, and professional confidence and influence are capabilities a CGMA professional qualification bestows on candidates. Developing future‑ready professionals also means widening access to the profession. CGMA 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.
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 on 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.
- Flatman is Vice President, Education and Professional Qualifications, Management Accounting, at The Chartered Institute of Management Accountants
