Icam, Mubas pact to boost human capital development

Institute of Chartered Accountants in Malawi (Icam) and Malawi University of Business and Applied Sciences (Mubas) have partnered to enhance quality human capital development for the private sector.

The two institutions signed a memorandum of understanding (MoU) in Blantyre on Friday that will ensure that Mubas fosters creativity, innovation and entrepreneurship while Icam will strive to maintain highest professional standards in accountancy.

In his presentation during the signing of the MoU, Icam chief executive officer Francis Chinjoka Gondwe said they will be collaborating with Mubas’ Continuing Education Centre (CEC) to deliver their courses to the students.

He said: “CEC will become an Icam recognised partner and centre for professional development. Students and members will be referred to Mubas for high quality services.

“CEC will be opening up its facilities in Salima and Mzuzu and others for the introduction of certificate in financial accounting, technician diploma, level one, two and three.”

But Chinjoka Gondwe decried the fact that the number of students taking Icam examinations is on the decline.

He said: “We are losing about 40 percent of students taking exams every. They prefer to go to colleges to study for a degree and not a professional course.

“Students prefer the easier and shorter route.”

Mubas vice-chancellor associate professor Nancy Chitera said their vision is to be an inclusive, engaged, entrepreneurial, innovative and research-intensive university.

She said Mubas is at the centre of Malawi 2063 by providing human capital that will enable the country to achieve its long-term development plan.

“Our mission is to advance knowledge, professional competencies and innovation through outstanding teaching, research, consultancy, outreach and engagement with industry and stakeholder in useful ways,” said Chitera.

She underscored the importance of the partnership, saying by sharing resources, it would help both institutions to reduce costs of operations and make full utilisation of existing facilities and resources.

“We want to believe that this collaboration will enhance research and consultancy outputs that will help understand and answer some economic and social challenges faced in Malawi and beyond,” said Chitera.

Under the partnership, CEC and Icam will jointly introduce calendared certified short courses of not more than three weeks, in-service trainings, continuous professional development programmes and tailor-made courses.

This also means that Icam students will be sitting examinations at the CEC-Mubas satellite campuses, which will reduce travel and accommodation costs for students.