THE INSTITUTE OF FINANCE MANAGEMENT

NEWSLETTER
VOLUME 09, JUNE – NOVEMBER, 2018 ISSN NO. 0856-156

IN THIS Ifm safari to DODOMA

ISSUE: The Institute of Finance Management officially launched its initiative to establish new
———————
Sabasaba & campus in Dodoma in a move aiming to support government’s decision to move to the
TCU new capital city Dodoma. The inaugural function started by launching Masters of
Exhibitions
………….pg 4 Finance and Investment program in Dodoma whereby the Speaker of the National
—————— Assembly Honorable Job Ndugai, was guest of honor …Continues on page 2
IFM SO
Elections
………….pg 4
——————
Best Student
Award
………....pg 5
——————
Publications
&
Consultancy
……......pg 5
——————
Short Courses
&
Students
Sponsorship
………...pg 6
——————
Annual Insur-
ance
Awareness
Walk
………...pg 07
———–——–
New Employ-
ment
………...pg 08
———–——–
The Guest of honor, the Speaker of the National Assembly, Hon. Job Ndugai cuts
Sports & En-
tertainment the ribbon to the map sketch to inaugurate “IFM safari to Dodoma” on 30th June
……….pg 09 2018. On the left is the is the Deputy Minister for Finance and Planning, Hon. Dr.
———–——– Ashatu Kijaji, next to Hon. Job Ndugai, is the IFM Rector, Prof. Tadeo Satta and
Obituary
……….pg 11 Dodoma City Council Mayor, Prof. Davis Mwamfupe.
THE INSTTUTE OF FINANCE MANAGEMENT Newsletter,2018 Page 2

From page one…
Other invited guests included,
Deputy Minister for Finance and
Planning Hon. Dr. Ashatu Kijaji,
Dodoma Regional Commissioner,
Hon. Dr. Bilinith Mahenge, Do-
doma City Municipal Mayor Prof.
Davis Mwamfupe, and Dodoma
city Executive Director Mr.
Godwin Kunambi.
The Rector of the Institute of
Finance Management Prof. Tadeo
Satta revealed that IFM has estab-
lished programs which are target-
ing policy makers and high-level
staff working in government and
private sector as well as middle-
class specialists. With the consent
of the central government and the
Dodoma regional authorities, the
institute is set to build a large
campus in Dodoma to enable
admission of a large number of
students who will receive knowl-
edge and skills of middle-class
management without forgetting
other requirements for the higher
leadership positions. The institute
believes that middle-class staff are
really needed and there is a lot of
shortage of such class because
many universities are focusing in
giving degrees instead of
diplomas.
He also stressed on the impor-
tance of Msc. Finance and Invest-
ment program which is offered by
the Institute to produce competent
graduates capable of managing
financial and investment
portfolios in the public and
private sectors. The idea of the
establishment of the program in
Dodoma is to produce skilled
graduates at the level of expertise
with excellent analytical skills in
finance and investment.
Continues on page 3…..

The Guest of
honor,
Speaker of
the National
Assembly,
Hon. Job
Ndugai holds
the map
sketch
showing the
proposed
plan for
IFM in
Dodoma city
after
inaugurating
the “IFM
safari to
Dodoma” on
30th June
2018.
THE INSTTUTE OF FINANCE MANAGEMENT Newsletter,2018 Page 3

From page 2
The guest of honor, Hon. Job
Ndugai pointed out that, he is
aware that the institute is facing
the major challenges in train-
ing a large number of students
in a small area in Dar es
Salaam. He further stated that it
is clear that IFM is the center
of training in financial manage-
ment, accounting, banking,
insurance and social security
professionals in Tanzania.
Many students are craving to
get these professionals at the
IFM. He also argued that, the
area is not enough to meet the
needs of IFM’s training market
for the Tanzanian community.
He congratulated the manage-
ment for seeing and start taking
steps to expand training
services in Dodoma. He also
pledged for the exercise to be
completed as soon as possible
in order to reduce the conges-
tion of students at the Dar es
Salaam campus. Also he
assured that there will be no
restrictions for IFM to build its
campus in Dodoma and the
office of the Speaker of the
Parliament will be ready to
assist the institute whenever
necessary to ensure IFM cam-
pus in Dodoma is completed at
the earliest. Likewise he re-
quested the Ministry of Finance
and Planning to allocate budget
for the construction of IFM -
Dodoma campus in the
2019/2020 budget.

Group
photo of
members of
workers
council who
visited
proposed
areas for
IFM
Dodoma
campuses
THE INSTTUTE OF FINANCE MANAGEMENT Newsletter,2018 Page 4

SABASABA AND 2018 at SABASABA grounds. Ministry of Finance and Planning

TANZANIA COMMISION Also, the institute participated at Ms. Suzan Mkapa and Govern-
FOR UNIVERSITIES TCU Exhibitions from 18th July ment Spokesman Dr. Hassan
(TCU) EXHIBITIONS to 21st July 2018. Abbas
The Institute of Finance IFM pavilion was visited by some The aim of participating in the
Management (IFM) together with of the Government High Rank aforementioned events was to
other institutions under the Minis- Officials such as The Minister of publicize activities and programs
try of Finance and Planning, par- Finance and Planning Hon Dr. offered by the Institute to the
ticipated at the 42nd International Philip Mpango, Deputy Minister general public as well as assisting
Trade Fair Exhibitions organized of Finance and Planning Hon. Dr. applicants with online registra-
by Tanzania Trade Development Ashatu Kijaji, Governor of BOT tions and providing information
Authority (TANTRADE) which Prof. Florens Luoga, Deputy on the institute’s main activities
started from 28th June to 8th July Permanent Secretary of the

IFMSO ELECTION
The presidential election for
IFM student’s organization
(IFMSO) was held on
26/5/2018, the candidates for
the presidential post were
Kelvin Ashery and Norbert
Mtaka as his vice-president
the other contestant was
Mr. Kelvin Mwangasa and
Dickson Mgasa his who
contested as his vice
president
The total of 1994 votes were
casted where 8 votes were
damaged. Mr. Kelvin Ashery
obtained 924 votes, and Mr.
Kelvin obtained 1060 votes
as a result Mr. Kelvin
A cross section of visitors who visited IFM pavilion during TCU
Ashery emerged winner of
exhibitions receiving briefing from IFM staff Ms. Angela Mwakasitu.
presidential post.
THE INSTTUTE OF FINANCE MANAGEMENT Newsletter,2018 Page 5

2017 BEST STUDENT AWARD

The Institute of Finance Management awarded
2.2 million Tsh to the best student for the year
2017 to Mr. Norbert Mushi from the Faculty of
Accounting, Banking and Finance.
Speaking with the media, The Rector of the
Institute of Finance Management Prof. Tadeo
Satta revealed that the award of the best student
prize is the institute’s culture aiming at
encouraging students to perform well in their
studies.
The awarded prize represents 1,000,000 million
Tsh from IFM, a total of 1,000,000 million Tsh
from the IFM’s Governing Council members The IFM Rector Prof. Tadeo Satta presents award to
and 200,000Tsh contributed by Dr. Adam the overall best student in Bachelor Degree Mr. Norbert
Jamal Mushi
In his closing remarks the IFM Rector urged
students to embrace self-discipline as it has
significant contribution in their performance

PUBLICATIONS, CONSULTANCY AND SHORT COURSES

1 Jumanne, B.B (2018) Ownership Concentration, Foreign Ownership and Corporate performance among
the listed companies in East African Community: The Role of Quality Institutions. African Journal of
Accounting, Auditing and Finance, 4(1&2)
2 Jumanne, B.B (2017) Foreign Direct Investment and Public Sector Management : The Acquaintances in
Sub Saharan Africa (SSA) low income, African Journal of Economics Review, 5 (2)
3 Msonge, V.T. (2016) Evaluating Library Collections: A Literature Review, The African Journal of
Finance and Management, 25(1): 82-90
4 Msonge, V.T. (2016) Challenges of Journal Collection Development in Selected Academic Libraries in
Tanzania , The African Journal of Finance and Management, 25(2):61-74

CONSULTANCY (MAY – OCTOBER 2018)

S/ TITLE CLIENT
N
1 Recapitalization of National Insurance Corporation National Insurance Corporation (NIC)
(NIC)
2 Recapitalization Proposal II National Insurance Corporation (NIC)
3 Organizational ICT Security Tanzania Meteorological Agency (TMA)
THE INSTTUTE OF FINANCE MANAGEMENT Newsletter,2018 Page 6

SHORT COURSES (MAY – OCTOBER 2018)

S/N TITLE CLIENT

1 Risk Management and Fraud control in the Public Sector Various

2 Workshops on Configuration of Web Hosting Platform and administration of AGITF

Web Hosting
3 Risk Management and Fraud control in the Public Sector Various

4 Risk Management and Fraud control in the Public Sector Various

STUDENTS SPONSORSHIP

Three 3rd year IFM students studying

Insurance received tuition fee sponsorship
from Metropolitan Insurance Company Ltd.
Speaking during the ceremony Deputy
Rector Academic, Research and Consul-
tancy Dr. Imanuel Mnzava, said the
Metropolitan Insurance Company through
Tanzania Insurance Brokers Association
(TIBA) has done the key role in helping the
needy
Students who received sponsorship were;
Ms. Paschalina Msofe, Rhoda Maholy and
Leonard Mahimbo. The sponsorship
received amounted to Tsh 4.5 million.
Speaking with the media, the Chief Execu-
tive officer of the Metropolitan Insurance Three third year students Ms. Paschalina Msofe, Rhoda
Company Mr. Suresh Kumar said it is their Maholy and Leonard Mahimbo, who are studying Insur-
social responsibility role to assist the needy ance program holding a dummy cheque worth Tsh
without being forced. 4,500,000 as tuition fees sponsored by Metropolitan
He urged that those who receive training Insurance Company Ltd
increase the performance of the Government
and private sector towards economic
development
THE INSTTUTE OF FINANCE MANAGEMENT Newsletter,2018 Page 7

4TH ANNUAL participants included students Commissioner of The Tanzania

INSURANCE from the Institute of Finance Insurance Regulatory Authority
AWARENESS WALK Management (IFM) Insurance
(TIRA) and Mr. Mohammed
professionals from the Insurance
The Institute of Finance Manage- Industry and other professionals Jaffer the President of TIBA.
ment in collaboration with Tanza- from various Industries who came The walk was led by the military
nia Insurance Brokers Association out to support the walk. brass band from IFM to Karimjee
(TIBA) and the Tanzania The walk was flagged by the grounds, located between Samora
Insurance Regulatory Authority
IFM’s Deputy Rector Academic, and Sokoine streets in Dar Es
(TIRA) marked its 4th Annual
Research and Consultancy Dr. Salaam.
Insurance awareness walk on 23rd
June 2018.The walk involved Immanuel Mnzava in the presence
more than 300 participants. The of Dr. Baghayo Saqware the

The IFM Deputy Rector, Academic, Research and Consultancy, Dr. Imanuel Mnzava (on the left behind
the Brass Band) leading participants on the 4th Insurance awareness walk from IFM to Karimjee
Grounds. The Walk was participated by Tanzania Insurance Brokers Association (TIBA), Insurance
Industry professionals, the public and IFM students.
THE INSTTUTE OF FINANCE MANAGEMENT Newsletter,2018 Page 8

NEW EMPLOYMENT

Ms. Felista Nkwimba Ms. Tumaini Mr.Bahati P.Maneno

Mayunga M.Mgonzo Tutorial Assistant –
Ms. Luciana Ndunguru
Academic Officer Assistant Lecturer – Insurance and Risk
Assistant Lecturer –
Gr. II Human Resource Management
Banking
IFM Main Campus Management Mwanza Teaching
Transferred from: Mwanza Teaching
IFM Main Campus Centre
Institute of Rural Centre
Transferred from: Date of Appointment:
Development Date of Appointment: 1st
National Audit Office 1st July, 2018
Planning (IRDP) July, 2018  
of Tanzania (NAOT)
Date of appointment: Date of Appointment:
03/01/2018 21st May, 2018

Mr. Fredynandy M.John Mr. Vicent Mwiga Mr. Kelvin L. Mkundi Ms. Kalunde Ntimizi
Assistant Lecturer – Tutorial Assistant – Tutorial Assistant - Estate and Building
Banking Social Protection Insurance and Risk Officer Gr.II
Mwanza Teaching Mwanza Teaching Management IFM Main Campus
Centre (MTC) Centre (MTC) Mwanza Teaching Date of Appointment:
Date of Appointment: 1st Date of Appointment: Centre (MTC) 1st July, 2018
July, 2018 1st July, 2018 Date of Appointment:
1st July, 2018
THE INSTTUTE OF FINANCE MANAGEMENT Newsletter,2018 Page 9

SPORTS AND ENTERTAINMENT

MISS IFM CONTEST
The leadership of the IFM student’s Organization
(IFMSO), organized Miss IFM contest on May
11, 2018 to find the winner of the crown, the
competition found the top five contestants and
ultimately one of them won the new 2018 miss
IFM. The top five contestants were Sharon
Williams, Janeth Richard, Mary Jeremiah, Easter
Oleloi, and Dorina Nelson. The winner of 2018
Miss IFM was Sharon William from the Faculty
of Accounting, Banking and Finance (FABF)

Top ten contestants for Miss IFM in a lineup, the first from the left is Ms. Sharon Williams
the winner of Miss IFM 2018
THE INSTTUTE OF FINANCE MANAGEMENT Newsletter,2018 Page 10

Some of the IFM male staff in a group photo during the friendly football match between
IFM and DIT which took place on 23rd August 2018 at DIT grounds. IFM emerged the
winner by 2 goals to nil

Some of the IFM female staff in a group photo during friendly match between IFM and DIT
which were held on 23rd August 2018 at DIT. IFM emerged the winner by 7 goals to nil
THE INSTTUTE OF FINANCE MANAGEMENT Newsletter,2018 Page 11

OBITUARY
The Institute of Finance Management mourned the passing away of two students in July and
September this year. May their souls rest in eternal peace. Amen

Mr. Habakuki Ulikaye Mr. Leon Francis Lwanga

Died on 29/7/2018 Died on 18/9/2018

EDITORIAL BOARD INSTITUTE OF FINANCE MANAGEMENT

Prof. Tadeo Satta -Patron P.O. BOX 3918, 5 SHAABAN ROBERT STREET,
Dr. Godwin Kaganda -Managing Editor 11101 DAR ES SALAAM,
Ms.Theresia Mendoza -Secretary TEL:+255 22 2112931/4,
Dr. Elirehema Doriye -Member FAX:+255 22 2112935,
Ms.Wema Mbwana -Member E-mail: rector@ifm.ac.tz,
Mr.Siril Ndekao -Member www.http://ifm.ac.tz.