Basic Financial Management Training in Tanzania

31-05-2016 Four Co-operatives in Tanzania (Mbeya- Ileje Co-operative Union Ltd, Usambara Co- operative Union Ltd, KIWIRA Saccos & RSTGA Saccos) were trained in Basic Financial Management. The training took place at Jangwani Sea Breeze Resort in Dar-es- Salaam, from 23rd May to the 27th of May, 2016.

The training was organised by Agriterra and facilitated by Mr. Abel Minja (Local Consultant EVK Partner) and Mr. Mikidadi Waziri (Local Consultant) and attended by Mr. Ibrahimu Mwankanye (Business Advisor) and Mrs. Gertrud Wagemans (Business Advisor).

The training was conducted in Swahili so that everyone was able to understand the principles of Basic Financial Management. This also enhanced group dynamics and enthusiastic participation of all trainees.

At the end of the training period, all participants were able to:

•  Prepare and use a cash flow forecast;
•  Analyse financial statements and budgeting monitoring reports;
•  Evaluate the organisation’s performance by assessing the strengths & weaknesses of their cooperatives.