The Bank of Tanzania Academy is expanding training opportunities for young people and financial-sector professionals as demand grows for specialised skills in banking, digital payments, data management and financial risk.
The academy is using the ongoing International Mining Technology Exhibition in Geita to promote its programmes, urging young people to acquire practical and professional skills that can improve their prospects in an increasingly competitive labour market.
Assistant Training Coordinator in the Office of the Principal at the Bank of Tanzania Academy, Bashiru Msindeni, said the institution had broadened its training programmes beyond Bank of Tanzania employees to serve a wider pool of young people and financial-sector practitioners.
“We are currently offering three main categories of training: short courses, professional certification programmes and long-term courses at diploma and postgraduate levels,” Mr Msindeni said.
Established in 1961, the academy was initially created to train Bank of Tanzania employees and workers in the financial sector. Its mandate has since expanded to include young people and professionals seeking specialised knowledge in financial services.
Mr Msindeni said the academy began offering long-term programmes in 2020 for Form Four and Form Six leavers, alongside short courses and professional programmes targeting people already working in the financial sector.
The short courses include training in the Tanzania Instant Payment System (TIPS), cyber security, investment analysis, business process and data management, and data analysis and preparation using Excel.
He said the programmes were designed to address specific skills gaps emerging from the rapid transformation of financial services.
“These courses mainly target practitioners in the financial sector, including those working with payment systems, banks and other institutions involved in financial services,” he said.
Mr Msindeni said the TIPS course, for example, was particularly relevant to professionals and agents involved in electronic payment systems.
“The TIPS course is mainly for people working in payment systems, including agents and bank employees,” he said.
Beyond technical skills, the academy is also placing emphasis on financial literacy, which Mr Msindeni said could help address some of the financial challenges facing households and businesses.
“Some of the challenges facing society are caused by a lack of financial literacy. That is why the Bank of Tanzania, through its academy, has introduced these courses to help address various challenges in society,” he said.
The academy also offers professional programmes covering areas linked to the central bank’s regulatory functions, including financial management, currency matters and credit management.
Mr Msindeni said training in credit risk management was intended to strengthen professionals’ ability to identify and respond to risks associated with lending.
For young people seeking to enter the banking industry, the academy offers an Ordinary Diploma in Banking Practice and Supervision.
The two-year programme targets Form Four and Form Six graduates who meet the required qualifications and provides training in banking operations and supervision.
The academy's expanded training portfolio comes as financial services become increasingly dependent on digital payments, data analysis, cybersecurity and effective risk management, areas that require specialised skills beyond conventional banking knowledge.