Skills Development in Namibia

In: People

Submitted By Heritha
Words 3202
Pages 13
Topic: Skills development in the financial sector: A Namibian case study

HN Muyoba
Student No. MYBHER001
Assignment 1: Literature Review
Research Methods
BUS5004W
MPhil: People Management (2014 intake)

Contents

1. Introduction 3 1.1 Definitions 3 1.2 Background of the Study 4 1.3 Aims of the Study 5 1.4 Study objectives 5 2 The research problem 6 3 Research Questions: 6 4 Literature review 6 4.1 International perspective 6 4.2 African perspective 8 4.3 Namibian perspective 9 5 Conclusion 12 6 Bibliography 13

1. Introduction

A functional financial sector is essential for economic development. Importantly, a strong financial sector, however, relies not only on the sound organized infrastructure, but also on the ability of its human resources. Human resources are critical in the development of the financial sector. Investments in human capital are influential in shaping the financial services industry where knowledge, skill, competencies and capabilities have become key strategic drivers of productivity, competitiveness and growth (BNM Financial Sector Development, 2015). With globalization, the need for capacity building in any country’s financial sectors becomes even more critical to ensure that experts within the industry will be able to keep up with the new changes brought about by the implementation of the international financial standards, such as IFRIS. In the next decade, there are likely to be many changes in the type of skills needed by the financial services industry. New roles will be created, and existing positions modified. As such, it is crucial that the financial services sector continuously improve the quality of its human resources and ensure an adequate supply of qualified human capital for future growth (Namibian Financial sector charter, 2009).

1.1 Background of the Study…...

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