Introduction
The Department of Business Studies(DBS) at Ardhi University is among the four departments of the School of Earth Sciences, Real Estate, Business and Informatics (SERBI). The DBS came into existence in 2015 following the restructuring and reorganization of ARU’s Schools and Departments. As a result of the reorganisation, the former school of Real Estate Studies (SRES) with all its academic programme was merged with the School of Geospatial Sciences and Technology (SGST) to form the current School of Earth Sciences, Real Estate, Business and Informatics (SERBI). The former SRES offered programmes in both Business and Real estate studies in three departments namely, Land Management and Valuation (LMV), Property and Facilities Management (PFM) and Real Estate Finance and Investment (REFI). The Department of Real Estate Finance and Investment offered two undergraduate programmes the first taking the name of the department i.e. BSc Real Estate Finance and Investment (BSc. REFI) and the other is BSc. Accounting and Finance (BSc. AF). Following the 2015 re-organisation, these two programmes plus all associated staff and facilities were reconstituted to form the current Department of Business Studies.
Measured by the strength of its staff in teaching, research and consultancy, plus the breadth and quality of undergraduate and prospective postgraduate programmes and extensive training and consultancy programmes in business, entrepreneurship and innovation, the DBS is among the leading departments in business and management teaching, research and consultancy in Tanzania. The department manages three approved academic programmes, which are BSc. Accounting &, Finance, BSc. Real Estate Finance & Investment and BSc. Banking and Finance. The Department apart from teaching is also engaged in Consultancy through the ARU Built Environment Consultancy Company (ABECC) Limited. Additionally, all academic staff are involved in one or more topical research in line with the ARU research agenda.
Vision
As part of SERBI and ARU, the department’s vision is to lead among other ARU departments in spearheading the university towards becoming a Centre of excellence in seeking knowledge and disseminating the same to a wider spectrum of beneficiaries at National, regional and global levels.
Mission
The mission of the DBS is to be the leader among other ARU departments in providing integrated teaching, research and public services that are geared towards sustainable socio-economic development of Tanzania and the world at large.
The Core Values: Business Orientation and Value for Money
Motto: “Knowledge for Business Prosperity”
Programmes Offered
Bachelor of Science in Real Estate (Finance & Investment) – BSc REFI
Entry qualifications
i) Direct entry (Form VI) Qualification Principal level passes in any two of the following subjects: Commerce, Accountancy, Economics, History, Geography, Mathematics, Physics, Biology and Chemistry. AND A pass in English at Grade “D” or above in the Certificate of Secondary Education Examination or a pass in English/English Literature at the Advanced Certificate of Secondary Education Examination. AND At least a subsidiary pass in Mathematics or Basic Applied Mathematics at Advanced Certificate of Secondary Education Examination (ACSEE) level or a grade of ‘D’ or better in Certificate of Secondary Education Examination (CSEE) level in Basic Mathematics
ii) Equivalent Qualifications An appropriate equivalent Diploma such as International Baccalaureate (IB) Diploma, NACTE Ordinary Diploma or any other Diploma or Advanced Certificate of not less than Second class/Credits level from recognised Institutions in Land Management, Marketing, Finance, Banking, Project planning and management, Community development, Economics of development, Finance and Investment, Tax management, urban and rural planning, Engineering and construction management. Candidates applying under Equivalent Qualifications must have passed English and Mathematics as for Direct Entry applicants under (b) and (c) above or have a grade that is equivalent to “Very Good” i.e. B+ of “Excellent” i.e. A in Mathematics in their respective Diploma or certificates qualifications
Duration: 4 years
Programme objectives and philosophy
The BSc. REFI is geared towards preparing graduates for professional careers in real estate finance and investment by providing them with a systematic body of knowledge on theoretical and practice in real estate finance and investment. The emphasis of the programme is on concepts, principles and methods of analysis and application in practical problem solving situations. The main objective of the BSc. REFI programme is to train personnel knowledgeable and competent in real estate finance and investment. In additional to land administration, graduates are expected to competently execute real estate finance and investment activities. In addition to core skills, graduates are provided generic skills in project management, entrepreneurship, economic and management skills. The generic skills may be utilised on their own or in combination with the core skills. As such the programme is multidisciplinary comprising core skills in three philosophical areas which are Real Estate, Finance/Investment and Economics. The philosophical background of the programme is therefore considered to be Real Estate Finance and Investment.
Bachelor of Science in Accounting and Finance (BSc. AF)
i) Direct entry (Form VI) Qualification Principal level passes in any two of the following subjects arranged in order of preference: Commerce, Accountancy, Economics, Mathematics, Geography, History, Physics, Biology and Chemistry. AND A pass in English at Grade “D” or above in the Certificate of Secondary Education Examination or a pass in English/English Literature at the Advanced Certificate of Secondary Education Examination. AND At least a subsidiary pass in Mathematics or Basic Applied Mathematics at Advanced Certificate of Secondary Education Examination (ACSEE) level or a grade of ‘D’ or better in Certificate of Secondary Education Examination (CSEE) level in Basic Mathematics.
ii) Equivalent Qualifications An appropriate equivalent Diploma such as International Baccalaureate (IB) Diploma, NACTE Ordinary Diploma or any other Diploma or Advanced Certificate of not less than Second class/Credits level from recognized Institutions in Accounting, Business administration, Banking, Finance, procurement and logistics management, commerce, Public sector accounting, Tax management, auditing and supply chain management. Candidates applying under Equivalent Qualifications must have passed English and Mathematics as for Direct Entry applicants under (b) and (c) in BSc. AF and BBF entry qualifications or have a grade that is equivalent to “Very Good” i.e. B+ of “Excellent” i.e. A in Mathematics in their respective Diploma or certificates qualifications.
Duration: 3 years
Programme objective and philosophy
Ardhi University BSc.AF degree programmeis designed to provide students with a unique blend of insights in Accounting and Finance disciplines both in theory and practice. This programme integrates both Accounting and Finance disciplines with a carefully selected flow of courses that enables the student to interrelate the knowledge provided to make both tactical and strategic business related decisions. The programme of study provides a firm footing in both accounting and finance with a view to producing capable and knowledgeable graduates who manifest an understanding of work and careers and ability to adapt quickly to the expectations of employers and the work environment. The principle objective of the BSc. AF degree programme is to ensure, through required course work and formal academic advising, that students achieve a full and balanced academic experience in Accounting and Finance disciplines.
Bachelor of Banking and Finance (BBF)
Direct entry (Form VI) Qualification Principal level passes in any two of the following subjects arranged in order of preference: Commerce, Accountancy, Economics, Mathematics, Geography, History, Physics, Biology and Chemistry. AND A pass in English at Grade “D” or above in the Certificate of Secondary Education Examination or a pass in English/English Literature at the Advanced Certificate of Secondary Education Examination.
AND At least a subsidiary pass in Mathematics or Basic Applied Mathematics at Advanced Certificate of Secondary Education Examination (ACSEE) level or a grade of ‘D’ or better in Certificate of Secondary Education Examination (CSEE) level in Basic Mathematics.
ii) Equivalent Qualifications An appropriate equivalent Diploma such as International Baccalaureate (IB) Diploma, NACTE Ordinary Diploma or any other Diploma or Advanced Certificate of not less than Second class/Credits level from recognized Institutions in Accounting, Business administration, Banking, Finance, procurement and logistics management, commerce, Public sector accounting, Tax management, auditing and supply chain management. Candidates applying under Equivalent Qualifications must have passed English and Mathematics as for Direct Entry applicants under (b) and (c) in BSc. AF and BBF entry qualifications or have a grade that is equivalent to “Very Good” i.e. B+ of “Excellent” i.e. A in Mathematics in their respective Diploma or certificates qualifications
Programme objective and philosophy The Bachelor degree programme in Banking and Finance is designed to provide students with a unique blend of insights into financial information. This programme integrates both disciplines of Banking and Finance with a carefully selected flow of courses that enables the student to interrelate the information provided to make both tactical and strategic business related decisions. The programme of study provides a firm footing in both banking and finance with a view to producing capable and knowledgeable graduates who manifest an understanding of work and careers and an ability to adapt quickly to the expectations of employers and the work environment. The principle objective of the Bachelor degree programme is to ensure, through required course work and formal academic advising, that candidates achieve a full and balanced academic experience in their banking and finance education.
Programmes Under Development (Upcoming)
The DBS envision an expanded undergraduate and postgraduatedegree programme base. As such the following undergraduate and postgraduate degree Programmes are under various levels of development, soon to be offered;
Research Activities
Existing Links and Partnerships
The DBS has numerous outstanding links, cooperation and networks with other higher learning institutions and faculties worldwide in various areas. Academic staff members serve as external examiners to various national and international institutions. The DBS has further earmarked some International Universities for partnership and collaboration including those within the EAC. Locally based institutions targeted for partnership include Mzumbe University, the Open University of Tanzania, Tanzania Institute of Bankers (TIB), CMSA and National Board of Accountants and Auditors (NBAA). Major accounting and auditing firms earmarked for corroboration include Ernest and Young, PWC, Deloitte and KPMG.
In terms of financial support, the department through ARU is supported by the government of Tanzania for most of its recurrent expenditures. Currently the department has not managed to secure internal finances to support the University’s activities. The future is to expand training programmes specifically short courses and conduct more training related consultancies. These could provide important sources of internal financial flow for running departmental activities. Major research funding for the department are expected from current ARU partners including Sida - Sweden, DAAD (Germany) and through some international and bilateral organizations such as ILO, USAID, World Bank, EU, GIZ, UNIDO and UNDP, FSDP and TPSF. It is department’s mission to develop a mutual collaboration between ARU and these institutions for not only one directional benefits rather a two way flow of resources including knowledge from research conducted by ARU. There are also proposals to establish industry partners especially with the banking industry and the auditing firms that are prominent in the country. Earmarked banks include; CRDB Bank Ltd, Commercial Bank of Africa, Exim Bank, National Bank of Commerce Bank (NBC) and Standard Chartered Bank. Similarly, government and non-government organization dealing in areas of mutual interest are also targeted for bilateral partnership specifically the Tanzania Chamber of Commerce, Industry and Agriculture (TCCIA), Business Environment Strengthening for Tanzania - Advocacy (BEST-AC), PRIDE (T), and Tanzania Revenue Authority (TRA), Airtel and Vodacom. DBS graduates and ARU Alumni Association are expected to play a prominent role in fostering strong and sustainable partnership.
Collaborative Research Projects
The DBS has a research agenda that is intertwined with the overall ARU research agenda with the main themes including:
For that, research carried out by the DBS staff and postgraduate students (Masters and PhD) are encouraged to focus on the identified areas. Topical and current research within the department includes the following:
Title
Researcher(s)
Informality, Finance and the Economy
Information and Urban Housing Markets
Dr. Samwel Alananga
Formalization of Financial Services for Optimal Entrepreneurship Growth
Mr. Samwel Ifuja and Dr. Samwel Alananga
Spatial Centrality Effects on Finance-Growth Nexus
Natural Resources Development and Management
Accounting for Oil and Gas Industries in Emerging Markets
Mr. Nurdin Igangula
Oil to Natural Gas Conversion of Public Vehicles
Ms. Theobaldina, Michael
Entrepreneurship and Innovation
Entrepreneurship Ecosystems for Oil and Gas Business in Developing Countries
Mr. Kansheba, J.M.P.
Investment Projects Management and Financing
Stakeholders Involvement in Development Projects of Commercial Public Spaces
Mr. Daniel Bega Mgweta
Land Market Dynamics and Urban Growth
Mr. Elisonguo Malisa
Accounting and Auditing
Valuation of Investment Properties and International Accounting Standards
Mr. Mbokami Gama
Corporate Governance
Research on Companies Listed in Sub-Saharan African Countries
Dr. Munisi G.H
Corporate Governance Risk of Selected Oil and Gas Companies in Tanzania
Mr. Nzowa
Public Sector Finance and Taxation
Determinants of flow meter effectiveness towards fuel custody transfer
Mr. Ephraim K. Ndaro
Publications
Recently Published Research Articles
S/No
Authour/s
Publication
1
Jonathan Mukiza Peter Kansheba (2020)
Real Estate-Backed Mortgages and Alternative Recovery Techniques: Evidence from Selected Banks in Tanzania, "International Journal of Real Estate Studies (INTREST) [forthcoming]
2
Mushi, V.J. (2020)
Housing Finance and Market Dynamics in Tanzania: An Analysis of Cross Sector Linkages. Journal of African Real Estate Research, 5(1), pp.16- 31.
https://doi.org/10.15641/jarer.v5i1.800
3.
Kongela, S. and Kusiluka, M. (2020)
A Case for Real Estate Inclusion in Pension Funds Mixed-Assets Portfolio in Tanzania, Current Urban Studies, Vol. 8, No. 3
4.
Kongela, S. (2020)
Gender Equality in Ownership of Agricultural Land in Rural Tanzania: Does Matrilineal Tenure System Matter? African Journal of Geospatial Sciences & Land Policy (AJGS &LP), 3(3) 13-27.
5.
Mushi, Vianey J. (2016).
Urban Land Valuation under Uncertainty: A Tale from Tanzania’s Real Estate Market. Journal of Building and Land Development.
6.
Mushi, Vianey J. (2014).
Smoothing dynamics of commercial real estate returns: investors behavior and the process of price discovery. ERES: Theses. University of Reading, School of Real Estate and Planning.
7.
Gianluca Marcato and Vianey John Mushi. (2012).
Investors’ Behavior and Price Discovery: A Tale from Smoothing Dynamics of Commercial Real Estate Returns;
https://pdfs.semanticscholar.org/d111/ba12ac6e91c4bf8c077344e91e0587310e17.pdf
8.
Munisi G.H. (2019).
Corporate Governance in Sub-Saharan Africa Countries, Journal of African Business,
https://doi.org/10.1080/15228916.2019.1646600
9.
Munisi G.H. (2017).
Financial performance of initial public offerings: Companies listed at Dares Salaam Stock Exchange, Business and Economic Journal 8 (2).
10.
Determinants of capital structure: evidence from Sub-Saharan Africa, International Journal of Managerial and Financial Accounting 9 (2), 182-199.
11.
Munisi, G.H. R Mersland (2016).
Ownership, board compensation and company performance in sub-Saharan African countries Journal of Emerging Market Finance 15 (2), 191-224.
12.
Munisi G., (2015).
Board Composition and Company Performance: A Study of Sub-Saharan African Countries, Corporate Governance and Corporate Social Responsibility: Emerging Markets.
13.
Munisi, G., N Hermes, T Randøy (2014).
Corporate boards and ownership structure: Evidence from Sub-Saharan Africa International Business Review 23 (4), 785-796.
14.
Munisi, G.,T Randøy (2013).
Corporate governance and company performance across Sub Saharan African countries Journal of Economics and Business 70, 92-110.
15.
Jonathan Mukiza Peter Kansheba, (2020).
Small business and entrepreneurship in Africa: the nexus of entrepreneurial ecosystems and productive entrepreneurship, Small Enterprise Research;
https://doi.org/10.1080/13215906.2020.1761869
16.
Entrepreneurial Ecosystems: A Systematic Literature Review and Research Agenda, Journal of Small Business and Enterprise Development.
17.
Kansheba, J. M. P., (2018).
An Empirical Analysis of the Relationship between Natural GasRevenues and Economic Growth in Tanzania. The International Journal of Business andManagement, 6 (10), 168-174.
18.
Kansheba, J. M. P., & Wald, A.E., (2020).
Entrepreneurial Ecosystem: A Systematic Literature Review and Research Agenda.
19.
Kansheba. J. M. P., (2019).
Nexus of Entrepreneurial Ecosystems and Productive Entrepreneurship: The Mediation Effects of Innovations: An Empirical Study.
Articles in progress
Kansheba, J. M. P., (2020).
Emerging Economies and Entrepreneurial Ecosystem Performance: Does Entrepreneurial Attitude Matter?
Alananga, S. (2019).
Information and Urban Land and Housing Markets
3
4
Ifuja, S. E. & Samwel Alananga (2019).
Formalization of Financial Services for Optimal Entrepreneurship Growth.
5
Spatial Centrality Effects on Finance-Growth NexusNatural Resources Development and Management
6
Alananga, Samwel & Igangula, Nurdin (2019),
Determinants of Household Demand of LPGsas an Alternative Energy Source;
7
Igangula, Nurdin&Alananga, Samwel (2019),
Household Demand and Choices of LPG Products as an Environmental Concern: Evidence from Dar es Salaam Tanzania;
8
Igangula, Nurdin (2019),
The Distribution of LPG Products for Household Consumption in Dares Salaam Tanzania: The impact of Accessibility on Consumption Expenditure;
9
Alananga, Samwel (2019),
Household Demand and Choices of LPG Products: The Impacts of Safety concern among consumers in Dar es Salaam Tanzania;
10
Gama, Mbokami (2019),
Compliance of Property Valuation to the Fair Value Hierarchy under IFRS 13
11
Alananga, Samwel& Gama, Mbokami (2019),
Compliance and Awareness with IFRS 13 during Property Valuation Practices in Tanzania: Evidence from Dar es Salaam;
12
Gama, Mbokami & Alananga, Samwel (2019),
The Stability of “Fair Market Value” under Different Property Valuation Techniques: Professionals’ Perspectives in Tanzania;
13
Nzowa, K. (2019),
14
Alananga, Samwel & Mgweta, Bega (2019).
Location of Public Commercial Spaces in Cities:Impacts on Management of Public Markets in Dar es Salaam Tanzania;
15
Mgweta, Bega Alananga, Samwel & Mbura, Omary K. (2019)
Planning and Designing for Public Commercial Spaces in Cities: Impacts on Management of Public Markets in Dares Salaam Tanzania;
16
Mgweta, Bega (2019)
Public Projects Resource Mobilisation and Implementation in Cities:Impacts on Management of Public Markets in Dar es Salaam, Tanzania;
17
Malisa Elisonguo (2019),
Examining Land Price Volatility in Dar es Salaam City [2003–2019]
18
Where the Land is Located, does it really matter on Prices? Evidence from Dar es Salaam City
19
Land Demand, Price Growth and Horizontal Expansion of the Dar es-Salaam City
20
Examining Land Delivery Process in Coast Regions/Dodoma City Tanzania: Risks of Private Sector Involvement
21
Spatial Centrality in the Finance-Growth Nexus: Evidence from Sub Saharan Africa.
22
Ndaro, E. (2019),
Books in progress
1. Dr. Alananga: Property Finance in Developing Countries 2 .Dr. Alananga: Urban Development Economics
Facilities for Teaching and Learning
The department uses the available lecture and seminar rooms at the Ardhi University, Dar es Salaam. Lecture and seminar rooms are centrally allocated by the University depending on the number of students registered for a particular course. The largest lecture room can accommodate 300 students at a time while the smallest accommodates 60 students. Other facilities if required are also expected to be procured centrally. Learners have access to the Ardhi University’s Central Library, and that of the Institute of Housing and Human Settlements Studies. The central library is located at the Ardhi University Dar es Salaam campus.
Student Enrolment
Changes in the labour market environment have led to increased demand for business and management students, both at undergraduate and postgraduate levels. The department has been selecting only 2% of the qualified applicants in its programmes. Student enrolment at undergraduate has increased slightly from 120 to 150 following the improvement in infrastructure that involved expansion of classrooms and seminar rooms. With these improvements, the department is expecting to increase enrolment to 200 per annum by the end of 2021. This will be accomplished by introducing and start running the already approved BBF programme. Also expanded enrolment is expected from the three (3) postgraduate programmes which are currently under development. By 2021 the department envision around 20 new postgraduate students. On average, the annual student enrolment is about 150 (for undergraduates) and expected to be 20 (for postgraduates) by 2021. At the moment, the department has a total of 420 students; all being in her undergraduate programmes.
Kiswahili
