Press
CNBS to Provide Internship to Malawian Student to Further Financial Education
Economics Major will focus on financial institutions, securities markets and central banking
December 19, 2012 (Overland Park, Kan.) – CNBS, a leading securities brokerage, and investment advisory firm serving the credit union community, announces 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, (http://www.africau.edu/) 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. Approximately 85 percent 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 approximately 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 (MUSCCO – http://www.muscco.org/), organized in 1980. Sylvester Kadzola, President/CEO of MUSCCO, is on the board of directors of the World Council of Credit Unions (WOCCU) in Madison, Wis., 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. We’re excited for CNBS to sponsor Christopher through this internship.”
During his year in the United States, Hamera will be exposed to CNBS’ operations, and to credit unions through visits to the firm’s clients, attendance at industry conferences and educational sessions, and assistance with client work within CNBS. Among the conferences he will attend in 2013 are the Credit Union National Association’s (CUNA) Governmental Affairs Conference in Washington, D.C.; the CUNA CFO Council Conference in Phoenix; CNBS’ Investment Management Institute in Phoenix; and CU Conferences’ Detecting Fraud & Managing Risks Conference in Charleston.
“CNBS is grateful to CUNA and CU Conferences for their assistance in ensuring that Christopher has the opportunity to attend some of the best credit union-focused training events available in 2013,” Hague said.
Christopher’s internship will also provide exposure to other types of financial organizations, including banks, private wealth management firms, the Federal Reserve System, primary securities dealers, and other investment management companies.
About CNBS
CNBS is a FINRA member broker/dealer and SEC-registered investment advisor serving credit unions nationwide since 1989. For more information about the company, contact Brian Hague at (800) 222-0978, or bhague@cnbsnet.com.