Viable alternative modes of financing training and research executive agencies in Tanzania: a cases of Tanzania Institute of Accountancy (TIA) and Tanzania Public Service College (TPSC)

The broad objective of the study was to examine viable alternative modes of financing for Training and Research Executive Agencies in Tanzania which are under financed due to a decline in government funding and effect perpetual funding constraints. One of the responses to the situation is to consider alternative modes of financing. To achieve this objective five research questions were administered for this purpose which included determining sources of finance, adequacy of different sources of financing, availability of other sources or formal activities for generation of revenue, existence of financing plans and suggestion of viable modes of financing. Combinations of data collection tools were used such as comprehensive literature review, conduct of interview with top management of TIA and TPSC and use of Questionnaires. A response of 62 respondents was analyzed and conclusion was derived thereafter. Findings of the research show that Training and Research Agencies stakeholders are dissatisfied with their organization present modes of financing. Also findings show that there are numerous alternative modes of financing but they are associated with different challenges. In this case most promising viable alternative modes suggested includes increase in consultancy services, engage in research contracts, establishing more academic courses, seek more international donors for financial support, and use of pension schemes entities for construction of infrastructures. Others include seeking affiliation with other training Institutions for technical and information supports, establish commercial ventures, and establishment of modern strategic and business plans, In conclusion, to ensure adequate funding Training and Research Executive Agencies should consider all financing modes that maximize the value of their business.