For a long time, the towering gatekeepers to professional achievement were university degrees. However, the barriers of academia are no longer the sole route to meaningful employment. Professional certifications have increasingly become not only a viable alternative but, in many cases, a superior pathway in a world defined by agility, relevance, and tangible results. Once considered the gold standard, traditional university degrees are rapidly being surpassed by industry-driven credentials such as the ACCA, CPA, CISA, CFA, and CIA. This is not mere speculation—the shift is substantiated by data and actual market demands. Today’s employers value proven abilities over general academic theory, as highlighted by the 2024 Somalia Financial Governance Report and international job surveys. Unlike many university degrees, certifications are deliberately designed to meet specific industry needs and are continually updated in response to global developments.
The Power of Specialization
Consider the unique strength of certifications: they are precisely targeted at cultivating specialized skills. Whether in financial reporting (ACCA), systems auditing (CISA), or investment analysis (CFA), these programs go far beyond surface-level knowledge, delving into the exact techniques, tools, and frameworks practitioners use daily. Just as importantly, these credentials require ongoing professional development (CPD), ensuring that practitioners remain relevant throughout their careers. This commitment to continuous learning is often lacking in many degree programs, where education typically ends at graduation.
A Game-Changer for Developing Economies
For developing countries such as Somalia, the impact is profound. As the Federal Government of Somalia works to rebuild institutions and strengthen public sector accountability, certified financial professionals are in high demand. International donors and oversight organizations increasingly require assurance that experts possess verifiable, quantifiable skills—not just vague qualifications. Certifications offer that guarantee. By partnering with international bodies like IFAC and ACCA, organizations such as the Somali Institute of Certified Public Accountants (SICPA) are proactively laying the foundation for a certification-driven economy. This is not merely capacity building—it is nation building. In environments plagued by corruption, inefficiency, and weak governance, certifications serve as vital tools for professional integrity and standardization.
The Decline of Degrees
This is not to suggest that academic degrees lack value—they excel in fostering theoretical inquiry and serving as the backbone of higher education. However, their inability to adapt to the rapid pace of technological and professional change has rendered them less relevant, though not redundant, in high-demand fields such as finance, auditing, and information systems. Degrees also often lack global portability; a finance degree from a local university may carry little weight internationally. In contrast, credentials like the CPA or CFA are recognized and respected worldwide. For millennials in Africa, Asia, or the Middle East, this translates into a genuine competitive edge and international mobility.
Return on Investment: Cost and Time
Consider also the crucial factors of cost and time. Most certifications can be completed in a fraction of the time and at a fraction of the cost of a four-year university degree. This efficiency is especially significant at a time when student debt has become a global concern. With higher employability rates, the return on investment for certifications is often substantially greater.
Toward a Skills-Based Future
The future of work will be shaped by competence rather than credentials alone. Employers are asking, “Can you do the job?”—not “Where did you study?” This represents a refreshing and democratizing shift, particularly in post-conflict or low-income nations where access to quality higher education is limited. With the right support, certification pathways can open doors for thousands of talented individuals who might otherwise be excluded.
Governments, educational institutions, and companies must recognize and adapt to this evolution. Especially in key sectors such as financial governance, tax administration, and procurement, public sector hiring practices need to value certifications as equal to—or even superior to—degrees. Building robust institutions depends on local certification programs and sustained investment in professional development.
Final Reflection
Professional credentials are shaping the present, not merely following it. These qualifications are more than just pieces of paper; they are catalysts for change in fragile economies striving for stability and integrity, as well as in global markets that prioritize real skills over academic formalities. The age of expertise is supplanting the era of the degree. Those who embrace this shift will not just survive—they will lead.
Omer Salah Aden (OSA) is a Public Finance Specialist | CIPFA, MSc, CISA and SAP ERP Advisor in Public Financial Management.
