OVERLAND PARK, Kan. (12/27/12)--CNBS, a securities brokerage and investment advisory firm serving the credit union community, announced it will provide a 12-month internship to a Malawian student, Christopher Hamera, in 2013.
Hamera, 25, is a student at Africa University in Mutare, Zimbabwe, and is majoring in economics. His home is in Blantyre, Malawi.
Malawi, a land-locked country in sub-Saharan Africa, is the fifth-poorest nation in the world. Roughly 85% of the 14 million Malawians residing in the country are subsistence farmers. However, since the 1970s, Malawi has had a credit union system, which is improving access to financial services and contributing to members' financial stability.
There are about 30 credit institutions in Malawi--called Savings and Credit Cooperatives (SACCOs). The SACCOs have their own trade association, the Malawi Union of Savings and Credit Cooperatives organized in 1980. Sylvester Kadzola, president/CEO of MUSCCO, is on the board of directors of the World Council of Credit Unions, and is supportive of CNBS' internship program.
"Christopher's internship will focus on credit unions and other financial institutions, the securities markets, and central banking," said Brian Hague, CNBS president. "His long-term career objective is to lead the Reserve Bank of Malawi (Malawi's central bank), and he hopes his internship will lead to career opportunities within the country's SACCO system."