TIA expands consultancy for business growth
DODOMA: THE Tanzania Institute of Accountancy (TIA) is expanding consultancy and financial literacy services to help businesses and institutions improve financial management, strengthen investment decisions and drive sustainable growth.
The initiative comes at a time when inadequate financial literacy continues to limit wealth creation and business expansion opportunities for many locals, despite growing access to investment products and entrepreneurial opportunities.
TIA Senior Lecturer Dr Beatrice Mkunde said through its Institute Consultancy Bureau (TIA-CB), it is positioning itself as a strategic advisory partner for organisations seeking to improve financial performance, governance and operational efficiency.
“TIA-CB provides consultancy services in financial management, accounting, institutional development and governance. We work with both public and private organisations to strengthen financial controls, improve budgeting processes and enhance institutional effectiveness,” Dr Mkunde said over the weekend at the Public Service Week Exhibition in Dodoma.
According to Dr Mkunde, the bureau also supports public institutions in the implementation of government financial systems, including the Integrated Financial Management System (IFMS), while advising organisations on policy reviews, organisational restructuring and institutional reforms.
She added that demand is increasing for support in Environmental, Social and Governance (ESG) compliance as organisations seek to align their operations with international standards and attract investment.
“Businesses and institutions are increasingly recognising the importance of strong governance frameworks and ESG practices in enhancing competitiveness, sustainability and investor confidence. “TIA has also expanded its financial literacy programmes to help employees and individuals make informed investment decisions and build long-term financial resilience,” Dr Mkunde said.
ALSO READ: IAA launches preparations for international tourism conference
She noted that many workers begin considering investment strategies only as they approach retirement, often limiting their options for wealth accumulation.
“Financial literacy is critical for economic empowerment. We encourage individuals to diversify their investments and explore opportunities such as collective investment schemes, government securities and other low-risk instruments that can generate sustainable returns,” she said.
She cautioned that many retirees channel savings into ventures such as schools, transport businesses and real estate projects without conducting adequate feasibility assessments or financial planning, exposing themselves to avoidable business risks.
Beyond financial education, TIA is also providing entrepreneurship, digital marketing and civic education training aimed at enhancing business competitiveness and supporting enterprise development.
Meanwhile, TIA Head of Admissions, Mr Baraka Kamwela said the institution has introduced new postgraduate programmes tailored to address emerging market needs and strengthen entrepreneurial capacity
He named the programmes as Master of Business Development and Entrepreneurship and Master of Project Evaluation and Monitoring.
Mr Kamwela said the programmes were developed after an assessment revealed increasing demand for skills that enable graduates to establish businesses, create jobs and contribute to economic growth.
“Government’s broader objective is to encourage self-employment and job creation. These programmes are designed to empower graduates to start and expand businesses while creating employment opportunities for others,” he said.
He added that the programmes are expected to play a key role in nurturing a new generation of entrepreneurs capable of driving innovation and supporting Tanzania’s economic transformation agenda.
