IFM roots for Masters degree programme in life insurance

DAR ES SALAAM-based Institute of Finance Management (IFM) is finalising plans to offer masters programmes in insurance, risk management and evaluation of social security funds.

The Principal, Prof Tadeo Andrew Satta, told reporters in Dar es Salaam yesterday that the institute, established to nurture the insurance and banking sectors, will increase courses to match with the changes in society.

There is a big demand for experts and workers of various cadres in the two sectors. Prof Satta said the insurance sector is contributing to the national economy in a big way, adding the institute plans to increase courses linked to the sector.

“We are part of the commitment of fifth phase government of stewardship of President John Pombe Magufuli of building the medium sized and industrial base economy by 2025,” he explained, adding that insurance could play a significant role.

The professor said the institute started with two courses and 75 students. Now, he said, the institute is offering 30 courses with 10,000 students while the number of applicants increases annually.

Prof Satta said the institute located along Shaaban Robert Street has very limited land and there is no room for expansion while by 2021 the enrolment is projected to be 20,000 students. New campuses will be established in Mwanza, Dodoma and Coast regions. Already land has been secured in Msata area, Bagamoyo District for a new campus in the Coast Region.

Former students have pledged cooperation. He said the institute works with a number of foreign tertiary institutions, explaining that such alliances were helping Tanzanians get world-class education locally and at very reasonable cost.

The institute is planning MA and PhD programmes for courses offered. Dodoma campus will be built as part of the national scheme to establish institution’s national capital, he explained, adding that workers who have moved to Dodoma will study in the proposed campus and has encouraged them to go for MA programmes.

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