• FMVA® certification program
  • 43 total courses (18 required)
  • Self-Paced & 100% Online
  • Translated Subtitles
96%
improved how they build models, analyze data, and deliver insights at work
93%
felt better prepared for roles in FP&A, investment banking, and corporate finance
43%
use CFI models and templates in their day-to-day work
Why Choose FMVA®

Go From Reviewing Models to Building Them

Most analysts can read a model. The FMVA® program teaches you to evaluate a company’s financial health, build dynamic Excel financial models, estimate the value of businesses, and clearly present your analysis. FMVA® is designed for professionals and students advancing ...

Most analysts can read a model. The FMVA® program teaches you to evaluate a company’s financial health, build dynamic Excel financial models, estimate the value of businesses, and clearly present your analysis. FMVA® is designed for professionals and students advancing or entering careers in investment banking or corporate finance/FP&A roles at top global and South African firms across the banking, financial services, mining, retail, and infrastructure sectors.

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Earn Your Certification
“The FMVA accelerated my ability to produce robust, auditable valuation work and shortened the time from idea to implementation.”
Recognized by Employers Across South Africa and Globally
The FMVA® Certification is globally recognized by financial modeling and valuation professionals and can strengthen your candidacy for competitive roles, such as Finance Manager, Corporate Finance Analyst, and Investment Analyst. An FMVA® credential verifies that you developed job-ready skills that stand out to hiring managers at JSE-listed firms in Johannesburg and Cape Town, multinational corporations (MNCs), and remote employers.
Built by Finance Practitioners, for Finance Practitioners
Every course is designed by seasoned finance professionals who bring real-world rigor to the curriculum and instruction, imparting both technical skills and how to apply them on the job. FMVA® graduates emerge from the program prepared with practical, job-ready skills that finance employers expect.
Trusted by 3 Million Finance Professionals Worldwide
Analysts, FP&A managers, investment bankers, and corporate development directors across 190+ countries have made the FMVA® Certification their globally recognized credential of choice for financial modeling and valuation.
A Credential That Travels With Your Career
An FMVA® Certification delivers value at every stage of a finance career in South Africa and beyond. Early-career professionals build job-ready financial modeling and valuation skills. Mid-level analysts formalize and validate what they already know. Senior professionals add a globally recognized certification to credentials they have spent years building.

What You'll Learn in the FMVA® Program

353

Financial Modeling
Financial Modeling
35%
Accounting
20%
Valuation
15%
Financial Planning & Analysis (FP&A)
10%
Excel
8%
Data Visualization
7%
Qualitative Business Analysis
5%

Financial Modeling

In South Africa’s top finance roles, whether at a domestic corporate, a global MNC, or an investment firm, you’re expected to build models, not just read them. This section teaches you to construct the financial models that analysts and managers rely on to make decisions, plan budgets, and evaluate opportunities.

Skills You’ll Learn

  • Build a dynamic, logically structured three-statement model with clear assumptions and outputs that managers understand and trust

  • Create multi-year forecasts across the income statement, cash flow, and balance sheet

  • Run scenario and sensitivity analyses so you can show what happens to the numbers when conditions change

Accounting

Strong accounting fundamentals are the foundation of every credible financial model and analysis. This section ensures you understand what’s driving the numbers, not just how to report them.

Skills You’ll Learn

  • Read and interpret financial statements with confidence, understanding how each component connects to the others

  • Apply the accounting principles that underpin the standards that financial analysts often encounter

  • Understand how accounting decisions affect your models and the outputs that follow from them

Valuation

Valuation is one of the most in-demand skills across South Africa’s investment banking, private equity, and corporate finance landscape. This section teaches you how to estimate a company’s value and defend that view with data.

Skills You’ll Learn

  • Understand the main valuation methodologies, their differences, and when to use each.

  • Build comparable company and precedent transaction analyses from public company data

  • Construct a DCF model in Excel and calculate the weighted average cost of capital

Financial Planning & Analysis (FP&A)

FP&A is one of the fastest-growing finance functions at South African corporates, MNCs, and startups, particularly in retail and financial services. This section prepares you to go beyond reporting and become the person who explains what the numbers mean and what to do next.

Skills You’ll Learn

  • Build financial models that support planning cycles and strategic decisions

  • Monitor results, identify the key drivers behind changes in revenue, costs, and profitability, and communicate them clearly

  • Translate financial data into insights that give management what they need to act

Excel

Excel proficiency is a baseline expectation for finance roles across South Africa. This section takes you from functional to fast, the level where hiring managers start to take notice.

Skills You’ll Learn

  • Work faster using keyboard shortcuts and efficient workflows

  • Conduct data analysis using pivot tables, data tables, and the functions finance teams rely on most

  • Build advanced formulas and functions that make your models more dynamic and easier to audit

Data Visualization

In South Africa’s competitive finance job market, the ability to turn a complex analysis into a clear, decision-ready output sets you apart. This section teaches you to present your work so it reaches the right people.

Skills You’ll Learn

  • Build professional dashboards and charts that surface the key drivers instead of overwhelming the reader with data

  • Present financial analysis in a format that supports investment and business decisions at every level

  • Design reports and presentations that make trends, risks, and valuation insights easy to act on

Qualitative Business Analysis

The strongest models are built on a clear understanding of the business behind the numbers. This section gives you the context to make your models sharper and your recommendations more credible, a skill that matters whether you’re analyzing a South African conglomerate in mining or retail or a global MNC.

Skills You’ll Learn

  • Assess industry trends, competitive dynamics, and macroeconomic factors that affect how a business performs

  • Bring strategic and operational context into your models so your assumptions are grounded in reality

  • Evaluate business risks and opportunities in a way that strengthens both your analysis and your point of view

Financial Modeling

35%

In South Africa’s top finance roles, whether at a domestic corporate, a global MNC, or an investment firm, you’re expected to build models, not just read them. This section teaches you to construct the financial models that analysts and managers rely on to make decisions, plan budgets, and evaluate opportunities.

Skills You’ll Learn

  • Build a dynamic, logically structured three-statement model with clear assumptions and outputs that managers understand and trust

  • Create multi-year forecasts across the income statement, cash flow, and balance sheet

  • Run scenario and sensitivity analyses so you can show what happens to the numbers when conditions change

Accounting

20%

Strong accounting fundamentals are the foundation of every credible financial model and analysis. This section ensures you understand what’s driving the numbers, not just how to report them.

Skills You’ll Learn

  • Read and interpret financial statements with confidence, understanding how each component connects to the others

  • Apply the accounting principles that underpin the standards that financial analysts often encounter

  • Understand how accounting decisions affect your models and the outputs that follow from them

Valuation

15%

Valuation is one of the most in-demand skills across South Africa’s investment banking, private equity, and corporate finance landscape. This section teaches you how to estimate a company’s value and defend that view with data.

Skills You’ll Learn

  • Understand the main valuation methodologies, their differences, and when to use each.

  • Build comparable company and precedent transaction analyses from public company data

  • Construct a DCF model in Excel and calculate the weighted average cost of capital

Financial Planning & Analysis (FP&A)

10%

FP&A is one of the fastest-growing finance functions at South African corporates, MNCs, and startups, particularly in retail and financial services. This section prepares you to go beyond reporting and become the person who explains what the numbers mean and what to do next.

Skills You’ll Learn

  • Build financial models that support planning cycles and strategic decisions

  • Monitor results, identify the key drivers behind changes in revenue, costs, and profitability, and communicate them clearly

  • Translate financial data into insights that give management what they need to act

Excel

8%

Excel proficiency is a baseline expectation for finance roles across South Africa. This section takes you from functional to fast, the level where hiring managers start to take notice.

Skills You’ll Learn

  • Work faster using keyboard shortcuts and efficient workflows

  • Conduct data analysis using pivot tables, data tables, and the functions finance teams rely on most

  • Build advanced formulas and functions that make your models more dynamic and easier to audit

Data Visualization

7%

In South Africa’s competitive finance job market, the ability to turn a complex analysis into a clear, decision-ready output sets you apart. This section teaches you to present your work so it reaches the right people.

Skills You’ll Learn

  • Build professional dashboards and charts that surface the key drivers instead of overwhelming the reader with data

  • Present financial analysis in a format that supports investment and business decisions at every level

  • Design reports and presentations that make trends, risks, and valuation insights easy to act on

Qualitative Business Analysis

5%

The strongest models are built on a clear understanding of the business behind the numbers. This section gives you the context to make your models sharper and your recommendations more credible, a skill that matters whether you’re analyzing a South African conglomerate in mining or retail or a global MNC.

Skills You’ll Learn

  • Assess industry trends, competitive dynamics, and macroeconomic factors that affect how a business performs

  • Bring strategic and operational context into your models so your assumptions are grounded in reality

  • Evaluate business risks and opportunities in a way that strengthens both your analysis and your point of view

Step 1 Optional

Prep Courses

Show Prep Courses

Choose from 9 optional courses to learn or review the fundamentals.

View
Excel Fundamentals - Quick Start Guide
3h 30min
View
Excel Fundamentals - Formulas for Finance
3h 30min
View
Accounting Fundamentals
5h
View
Reading Financial Statements
2h
View
Corporate Finance Fundamentals
2h 30min
View
Math for Finance Professionals
3h
View
Workflow Best Practice for Analysts
1h 30min
View
The Role of The FP&A Professional
1h 30min
View
AI for Finance Workflows & Governance
2h
Show Prep Courses
Step 2

Core Courses

Hide Core Courses

Complete 15 required core courses to build your skill set in financial modeling & valuation analyst.

View
Financial Analysis Fundamentals
5h
View
Financial Modeling Guidelines
3h
View
Introduction to 3-Statement Modeling
6h
View
3-Statement Modeling
6h 30min
View
Auditing and Balancing a 3-Statement Model
2h 30min
View
Operational Modeling
8h
View
Introduction to Business Valuation
6h 30min
View
DCF Valuation Modeling Fundamentals
2h
View
Applied DCF Valuation Modeling
7h
View
Comparable Valuation Fundamentals
2h
View
Forecasting Techniques
1h 30min
View
Scenario & Sensitivity Analysis in Excel
1h 30min
View
Excel Data Visualization and Dashboards
3h
View
PowerPoint & Pitchbooks
4h 30min
View
Professional Ethics
1h
Hide Core Courses
Step 3

Elective Courses

Show Electives Courses

Choose a minimum of 3 electives (out of 12 available) to master more advanced topics and specialized areas.

View
Monthly Cash Flow Modeling
3h
View
Advanced Excel Formulas & Functions
4h 30min
View
Comparable Valuation Analysis
4h 30min
View
Mining Financial Model & Valuation
5h
View
Startup / e-Commerce Financial Model & Valuation
6h 30min
View
Corporate & Business Strategy
7h 30min
View
Introduction to Bank Valuation
4h
View
Normalizing Income Statements
2h
View
Real Estate Financial Modeling
6h 30min
View
Communication and Presentation Skills for Finance Professionals
2h
View
Strategic Problem Solving
2h 30min
View
Sell-Side Equity Research
4h
Show Electives Courses
Step 4 Optional

Case Study Challenges

Show Challenges

These case study challenges allow you to apply your knowledge and skills by solving real-world problems.

View
Renewable Energy - Solar Financial Modeling
6h 30min
View
Using IBISWorld to Analyze and Benchmark a Business
1h 30min
View
AI Prompting for Financial Analysis
1h
View
AI-Assisted Peer Group Selection
1h
View
Drafting a 3-Statement Model with AI
1h
View
Formatting a 3-Statement Model with AI
1h
View
Tesla Earnings Analysis - A Sell-Side Research Case Study
1h 30min
Show Challenges
Step 5

Final Exam

After completing the required courses, take the final exam (with a minimum passing grade of 70%) to earn your program certification.

CFI FMVA Certificate FMVA Program Badge

Get FMVA® Certified

Congratulations on becoming a certified Financial Modeling and Valuation Analyst! Upon completion of the program, you will receive a blockchain digital certificate with your new credentials.

As a CFA Charterholder who put a good 900 hours into that designation, I found just as much value in your FMVA® program.

In all honesty, as a CFA Charterholder who put a good 900 hours into that designation, I found just as much value in your FMVA® program. This designation only took me about 60-70 hours to complete. What I like about the approach is that it's very practical for the workplace as opposed to just pure theory. I also appreciate CFI focusing internationally and giving a financial break to those who are struggling to afford it.

chris caldwell headshot
Chris Caldwell, FMVA®
Director, Treasury

Meet Your Instructors

A combined 100+ years of industry experience to help you unlock your potential.

Adrian Camara

Adrian Camara

CEO & Cofounder at Athennian
Adrian Camara is an entrepreneur and lawyer. He worked at McCarthy Tétrault LLP prior to co-founding Athennian, the top-rated cloud-based entity management platform. The company provides a cloud-based entity management system that empowers legal, tax, and finance teams to manage
Previously At:
Adrian Camara is an entrepreneur and lawyer. He worked at McCarthy Tétrault LLP prior to co-founding Athennian, the top-rated cloud-based entity management platform. The company provides a cloud-based entity management system that empowers legal, tax, and finance teams to manage complex corporate groups. Launched in 2017, the business has grown rapidly and now has just under 100 employees across North America.
Andrew Loo

Andrew Loo

VP, Capital Markets
Andrew is VP, Capital Markets at CFI. Prior to joining CFI in 2019, Andrew retired in 2017 as Managing Director at Nomura Securities in Hong Kong, where he managed the fixed income sales efforts to Central Banks and Sovereign Wealth
Previously At:
As VP of Capital Markets, Andrew brings his real-world experience in capital markets to the CMSA program.
Duncan McKeen

Duncan McKeen

EVP, Financial Modeling
Duncan is the Executive Vice President, Financial Modeling at CFI. Since 2014, Duncan has been focused on designing courses and teaching financial modeling to employees working in accounting, valuation, investment banking, equity research, and private equity.
Previously At:
Duncan is fascinated with pedagogy and loves course creation and design. He is an effective communicator with extensive experience teaching financial modeling, accounting, analysis, and valuation.
Helen Wale

Helen Wale

VP, Leadership Skills
Helen, a certified professional coach and VP of Leadership Skills at CFI, is an experienced Human Resources and Organizational Development professional with over 26 years of experience working in senior positions. Since 2016, Helen has taught leadership skills to employees
Previously At:
Helen is CFI’s VP, Leadership Skills. She has taught and facilitated workshops primarily in leadership development, employee engagement, and coaching.
Ian Christie

Ian Christie

CEO & Chief Career Strategist – The Bold Career Project
In the '90s as a high-end Executive Recruiter, Ian became fascinated by deciphering the personal marketing success patterns of business talent. That led him to start his first career business, get acquired, lead a product team for the world's largest career site,
Previously At:
Career Advancement, Career Moves (Getting Promoted, Career Change, Targeted Job Search), Career Coaching, Personal Marketing, LinkedIn Profiles & Networking, Resume Writing, Interview Coaching, Career Management & Development
Gabriel Lip

Gabriel Lip

VP, Commercial Credit & Banking
Gabe is a subject matter expert at CFI and was a commercial lender at TD Bank with 15 years of experience. He recently managed a $100 million portfolio of higher-risk and non-performing credits at the restructuring and insolvency group.

Careers in Financial Modeling & Valuation in South Africa

icon fpa card
Financial Planning & Analysis
Develop budgets and forecasts that support a corporation's strategic planning process, one of the most in-demand finance roles at South African corporates and MNCs in Johannesburg and Cape Town.
icon private equity
Investment Banking
Perform financial modeling, valuation, presentations, pitchbooks, AI tools, and strategy at investment banks in Johannesburg, supporting transactions for JSE-listed firms and cross-border deals within Africa and globally.
Private Equity
Evaluate potential investments, conduct financial modeling, and support portfolio companies across South Africa's growing private equity landscape, particularly in mining and infrastructure.
Corporate Development
Identify and execute strategic growth opportunities for a company, a role gaining prominence at South African conglomerates in mining, financial services, and retail, including regional expansion into broader Africa, and multinational firms operating in South Africa.
icon fpa card
Financial Planning & Analysis
Develop budgets and forecasts that support a corporation's strategic planning process, one of the most in-demand finance roles at South African corporates and MNCs in Johannesburg and Cape Town.
icon private equity
Investment Banking
Perform financial modeling, valuation, presentations, pitchbooks, AI tools, and strategy at investment banks in Johannesburg, supporting transactions for JSE-listed firms and cross-border deals within Africa and globally.
Private Equity
Evaluate potential investments, conduct financial modeling, and support portfolio companies across South Africa's growing private equity landscape, particularly in mining and infrastructure.
Corporate Development
Identify and execute strategic growth opportunities for a company, a role gaining prominence at South African conglomerates in mining, financial services, and retail, including regional expansion into broader Africa, and multinational firms operating in South Africa.

Accreditation & Recognition

CFI is recognized by leading professional bodies worldwide for the quality of its finance training and certification programs. CFI aims to create value for its certification holders, spread awareness of the FMVA® program, and increase global recognition of our designations.

National Association of State Boards of Accountancy

Helps keep the accounting industry effective, enabling professionals to protect the financial interests of the public.

The London Institute of Banking & Finance

Professional body accredited by the Financial Conduct Authority, focused on banking and finance education globally.
The Higher Learning Commission

Higher Learning Commission (HLC)

Independent accreditation body for colleges and schools across the United States and North Central region.

Frequently Asked Questions About FMVA® in South Africa

If you haven’t found your answer from our FAQ, please send us a message.
Contact Us
If you haven’t found your answer from our FAQ, please send us a message.
Contact Us