Investment and financial professionals have been challenged to conduct credible market research in order to promote a high savings and investment culture and boost investor confidence.
According to the industry regulator, Institute of Certified Investment and Financial Analysts (ICIFA), the savings and investment culture in Kenya can be enhanced through empowering the investing public with realistic market information and the right analysis.
ICIFA CEO Diana Muriuki said: “time has come for investment professionals to address the low savings and investor confidence taking the driving seat in providing proper insights and giving realistic returns.”
She noted that the East African region has witnessed a low savings and investment culture occasioned by lack of professional advice.
“ICIFA would like to urge the public to engage the services of professional analysts prior to making an investment decision so as to reap maximum returns,” she added.
Last week, ICIFA held a three-day conference in Mombasa under the theme “Promoting High Savings and Investment culture in the region which attracted the major industry players from Kenya.
Some of the key deliberations during the conference included the role of savings and investments in promoting economic growth, ethics and governance in the finance and investment profession and boosting domestic savings as a strategy for economic growth.
ICIFA was established under the Investment and Financial Analysts Act No. 13 of 2015 with the mandate of regulating investment professionals.
“As the industry regulator, we also urge the investing public to report any cases of misconduct or unethical behavior by our members so that appropriate action can be taken to protect public interest,” said Diana.