By KT Reporter
Uganda’s financial sector faces a growing challenge: a shortage of qualified accountants. While the country has about 5,000 professional accountants, demand stands at 8,000, leaving a gap often filled by unqualified personnel.
In response, the Institute of Certified Public Accountants of Uganda (ICPAU) has, since 2019, offered full scholarships to support aspiring accountants in completing the Certified Public Accountancy (CPA) course, which is now regarded as essential for employment in the sector.
To date, 70 Ugandans have benefited from the scholarship, which covers all four levels of the CPA course, including course enrollment, study materials, and fees—worth about UGX 5 million per student. Under the seventh cohort, another ten students from various universities have been flagged off, and preparations are underway to launch the eighth cohort, bringing the total number of beneficiaries to 80.
In addition to equipping you with technical and professional skills, CPA enhances your competitiveness both locally and globally. Indeed, with CPA, the opportunities are boundless.
As per the Uganda Accountancy Qualifications Framework, CPA is equivalent to a post-graduate qualification, and you will receive a certificate after every level that you complete, enhancing your prospects for career opportunities at each stage of your education,” said ICPAU Council President Timothy Ediomu.
Ediomu explained that in the past, completing lower-level CPA stages could secure employment, with promotions coming as one worked. Today, employers expect full completion of the course, which is why ICPAU is encouraging as many students as possible to finish all four levels.
Eligibility and Expectations
The scholarships target top-performing university graduates who want to complement their degrees with professional qualifications.
Applicants must have graduated with First Class or Second-Class Upper degrees. Beneficiaries are expected to complete the course in two-and-a-half years, though some have completed all levels in two years. The scholarship supports only first-time sitting and does not fund repeated papers.
According to former beneficiary Emily Namwano, this encourages students to focus and complete the course promptly.
“It will be very encouraging for students to focus and complete the course in a timely manner, especially since repeated papers are not funded. This approach also challenges you to read and prepare well for each level,” Namwano said.
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Ediomu also stressed the importance of sensitizing the public and employers about the equivalence of CPA qualifications.
Many students, sponsors, and employers do not fully understand its weight. Completion of all four levels equates to a post-graduate qualification, Level 3 is equivalent to a bachelor’s degree, and Level 2 corresponds to a diploma.
Through this initiative, ICPAU is expanding Uganda’s pool of qualified accountants, helping to fill critical skills gaps, and supporting the country’s economic growth by ensuring professional standards in the financial sector.
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