Institutional Capacity Strengthening for the promotion of Financial Mathematics and Financial Engineering in Africa

Abstract

The prosperity of Africa is superglue to the growth of her economy. Financial Mathematics (FM) and Financial Engineering (FE) are identified as engines for growth. In this paper, strengthening of inter-institutional collaboration is encouraged for effective promotion of the courses in Africa. Institutions should be sharing resources like financial data, library and laboratory facilities. Scholarship should be provided to students to pursue FM and FE courses. Institutions should have relationship with the industry for internship and job placement of their students. The financial industry should provide grants to students and researchers doing research on financial related problems. Above all, there should be a kind of lattice relation wherein the universities, financial institutions and research centres are bound together by institutional collaborations.

Keywords: Finance, Mathematics, Engineering, collaboration, research, economy, data and resources.