CIMA Reviews Exam Fees Downward

In response to the weakened performance of the Naira against the Sterling Pound, the Chartered Institute of Management Accountants (CIMA), has announced reductions in its exam fees from 4 April. Reductions will range from 12.6% to 19.6% depending of the paper sat.

Samantha Louis, Africa regional director said, “The reduction in exam fees is in response to feedback from our students and various other stakeholders in the wake of the weakened Naira.

She said: “CIMA has historically operated a single global pricing strategy for all its members and students. But the current economies in Africa and exchange rate variations dictate that we relook our strategy in the plight to support our students’ progression.”

The new pricing format applies to all students in Africa and has a tiered approach recognizing the price sensitivity of this market and its prohibitive effect. In this format exemption pricing remains the same - on a single global pricing structure.

Responding to the news, Ijeoma Anadozie, head of Nigeria, said, “The new pricing strategy is in line with our vision to help people and business to succeed. It will allow more Nigerians to become CIMA members and management accountants. This in turn will help Nigerian businesses, and will power up their decision-making abilities.”