Tanzania - Startup under 3 years old

Describe your project or startup in a few words

The firm provides training to candidates preparing to sit for Certified Public Accountant (CPA) exams administered by NBAA. We train through face-to-face programmes and planning to launch online-training platform to serve upcountry customers.

01.01 Describe your startup in more detail

The firm was established to provide financial consulting services to individual and corporations and public sector in the area of accounting, auditing and tax. But as a start up, we currently focus in providing training to candidates who are preparing to sit for CPA exams offered by NBAA. The firm base is in Dar es Salaam, a city with many customers from different Universities and Institutions

01.02 What is the main problem you are trying to solve?

As an adult with a lot of responsibilities such as office, family, and other social responsibility, plus the desire to become Certified Public Accountant (CPA) it is difficult to accomplish all the task successful. Finding that challenge for many students with a desire to become CPA, look out for trainers to help them review the syllabus to sit for the exams. That is why MOJA Financial Consultants was established. Our aim is to ensure with the less time a student have for studying we help you review the NBAA syllabus and ensure you pass the exams with excellence. We do that with the help of modern teaching methods such as class discussions, tests and personal consulting hours to students to ensure that they pass their exams with flying colours. Furthermore, considering the demand for service even in remote areas, MOJA plans to extend her services through online-training platform, to ensure number of CPAs increase for a better sustainability of the business and the country at large.

01.03 Tell us the major benefits and/or advantages of using the product/service that your startup provides (at least 3).

Advantages of using our services include the following:- - We help candidates become Certified Public Accountant. To be able to practices Accounting functions to the fullest NBAA requires all companies to hire person with the certification. As such CPA is a must for financial and accounting department employees who are working in any organization. Therefore MOJA helps its customers achieve that dream. - Better understanding of the accounting and financial knowledge even after graduating CPA. We tech to the extent that, students will be able to apply the knowledge in their business environment and improve their decision making. - Students gets a life-time coach, even after graduating you can contact us for any advice and consulting services.

01.04 Please describe who exactly your startup’s product/service is aimed at serving. Who are the targeted beneficiaries?

The target beneficiaries are:- 1. Graduates who complete their degree in the business or non-business programmes who wish to become CPA (T). 2. Employed persons who work as Accountants, Finance managers and other related tasks who desire to become CPA(T). 3. Entrepreneur who want to become tax consultants, accountants and future auditors can train with us and achieve that dream, through first acquiring their CPA with us. 4. In the future our desire is to provide consulting services i.e. management consulting services to companies in solving their managerial challenges. Also we aim at providing service in preparing sustainability reports as per IFRS S1 and S2, and GRI framework as the service is currently provided by foreigners or Big 4 auditing firms. (One day Yes)

01.05 When was your company established?

2021-12-24

01.06 Are you already selling your product/service?

Yes

01.07 How many other owners are there within your startup?

2

01.08 Among the other owners, how many are female?

1

01.09 Please describe the profile of the other owners within your startup (skills, experience, etc.)

CPA (T) Hilda Elias Mushi is the head of accounting and tax related issue in the start up. She is currently employed as Senior Accountant at DMG Heavy Industry a company that deals with ship building, and she devote her valuable time in helping MOJA Financial Consultants. She has a degree in Economics majoring in project management and currently she is in the final stages of finishing up her masters degree in the area of finance and accounting from IFM. CPA (T) Paschal Michael is another owner and a trainer in the firm. He teaches issues related with Financial Management and Corporate Finance. Apart from being employed with Serengeti Breweries Limited as Logistic and Transport Manager, he devoted his valuable time to shape and ensure the firm succeed. He has good skills in Microsoft Excel and communication skills obtained from his past employers such as Mwananchi Communication Limited and DHL (a multinational company).

01.10 If you have a website, a social media page (Facebook, Instagram, Linkedin…), or app, please provide the link(s) here:

https://www.linkedin.com/in/james-moses-78216a106/

01.11 Which industry best describes your project?

Other: Financial Consulting Services

02.01.01 My startup contributes to the No poverty goal

5

02.01.02 No poverty - Justification for my startup

By training young graduates from University and ensure they get their CPA, this will increase the likelihood of them being employed and be self employed, and in turn have a stable source of income to help their families. Moreover, the business help our families (owner`s family and employees families) to survive, so it is important for the business to succeed.

02.02.01 My startup contributes to the Zero hunger goal

4

02.02.02 Zero hunger - Justification for my startup

02.03.01 My startup contributes to the Good health and well-being goal

4

02.03.02 Good health and well-being - Justification for my startup

02.04.01 My startup contributes to the Quality education goal

7 - Strongly Agree

02.04.02 Quality education - Justification for my startup

MOJA Financial Consultants aim is to provide quality education to young graduates as well as employed and entrepreneurs who want to become CPAs. The firm provide financial knowledge not only for the purpose of becoming CPA, but also to increase their financial and entrepreneurial literacy in all matters. For examples in our courses we train issues of budgeting, financial market and cloud investing, this education is very important for the sustainability of individual, corporations and the country at large.

02.05.01 My startup contributes to the Gender equality goal

6

02.05.02 Gender equality - Justification for my startup

Currently we train more females (62%) students than males (38%) (this is according to Customer Satisfaction Survey report for May 2024). This means the start up also play part in ensuring that female get quality education like males. Moreover, we encourage female teachers to also join our team in teaching and training future CPAs. For example in 2023, we were having a female teacher for Auditing Subject (her name was CPA Amina Kisesa, currently a Director of Finance at JS ElectroMec Ltd.). Furthermore our support team like coordinators are women. This means the startup contributes to gender equality.

02.06.01 My startup contributes to the Clean water and sanitation goal

4

02.06.02 Clean water and sanitation - Justification for my startup

02.07.01 My startup contributes to the Affordable and clean energy goal

4

02.07.02 Affordable and clean energy - Justification for my startup

02.08.01 My startup contributes to the Decent work and economic growth

6

02.08.02 Decent work and economic growth - Justification for my startup

The startup provide training to future CPA in Tanzania, who will participate in business and government decision making. This will in-turn ensure economic growth. Furthermore, the startup aim at providing student with tax education to ensure that they become good citizens by paying taxes themselves or for their businesses. This will contribute to the economic growth. Notwithstanding the knowledge shared help many students make critical decisions for their organization and maximizing economic growth of their companies as we train different executives and managers in their organizations.

02.09.01 My startup contributes to the Industry innovation and infrastructure

4

02.09.02 Industry innovation and infrastructure - Justification for my startup

02.10.01 My startup contributes to the Reduced inequalities goal

5

02.10.02 Reduced inequalities - Justification for my startup

We train different candidates of different race, religion, age and different income levels. For example in one of the survey done to the students there are 72%, 16% and 8% employed, unemployed and entrepreneur students. Therefore, this help to reduce inequalities in the society. Our firm doesn`t discriminate any student because of race, sex, disabilities, age etc...

02.11.01 My startup contributes to the Sustainable cities and communities goal

4

02.11.02 Sustainable cities and communities - Justification for my startup

02.12.01 My startup contributes to the Responsible consumption and production goal

4

02.12.02 Responsible consumption and production - Justification for my startup

02.13.01 My startup contributes to the Climate action goal

6

02.13.02 Climate action - Justification for my startup

To ensure that we protect the environment. Most of our registration process is done through google forms and we encourage our students to use electronic money transfer mechanism such as TIGOPESA LIPA NUMBER, NMB Mobile and CRDB Sim Banking for making payments. To reduce consumption of paper and stationeries our firm do the following;- 1. Electronic Receipts, Invoices, and Customer Statements (this was possible through ZOHO books an accounting software used to records our accounting information. 2. In conducting tests, we encourage students to do tests at their homes and scan the document and send it to teachers for marking. This reduce consumption of fuel for transportation and reduce carbon emissions through usage of cars (to or from the centre). 3. We share notes through online platforms such as WhatsApp this reduce usage of paper.

02.14.01 My startup contributes to the Life below water goal

4

02.14.02 Life below water - Justification for my startup

02.15.01 My startup contributes to the Life on land goal

4

02.15.02 Life on land - Justification for my startup

02.16.01 My startup contributes to the Peace Justice and Strong Institutions goal

4

02.16.02 Peace Justice and Strong Institutions- Justification for my startup

02.17.01 My startup contributes to the Partnerships for the goal

4

02.17.02 Partnerships for the goal - Justification for my startup

06.01 There are a large number of customers who already use a product/service very similar to the product/service we envision creating.

5

06.02 The product/service represents an entirely new type of product/service.

4

06.03 The product/service could be described as a new technology.

4

06.04 The product/service is an improvement on an existing product or service.

7 - Strongly Agree

06.05 The product/service could be described as an extension of a range of products or services.

5

06.06 The product/service responds to a demand or need that has not been satisfied by other products/services.

5

06.07 The product/service is a new version of an old product/service.

5

06.08 Justification for my startup

We provide services that is not new to the industry, but the approach is new. We offer training services considering the nature of students (speed of learning), and the methodologies used in the class is what differentiate us from other CPA review centre. The students get a chance to do the questions themselves in the class with the supervision of the trainer, this boost their understanding. I can admit it cost us time, but the result we are getting from using of that methodology is positive and customer feedback is good. Further, for the online program we plan to make the videos and short but directly to the point. Other centre have long videos of 3 hours for one topic, this makes it difficult for students to make a follow-up. We plan to record the videos for online classes in a studio where we are going to be able to reduce unnecessary items and make the video short and easy to follow up and understand. This will make our services more favoured by those who have tight schedules.

06.09 Competitive Analysis

It is true that there are alot of firms providing the same service as us. There is Covenant Financial Consultancy who offers the Online training platform and the training services to CPA candidates plus many more others. However, our firm is unique in the way we teach and train our students we deliver through real-life examples and try to make complex concepts into simple language that even slow learners can get the concept. In other firms thet treat students as if both are fresh graduates, this pose a challenge to those who are older and they graduated years back. Despite of the competition, we stand out of many because we interact and let the students do more tests and exercises in the class plus more monthly tests than in any other CPA review classes in town. This program we plan to introduce it even in the online-platform that we wish to launch in 2025. Our services are unique that is why many customers are coming to us because of referrals from others students who enjoyed us.

11.05 Are you initiating actions within your community to promote the role of female entrepreneurs?

Yes, as explained earlier we encourage female teachers and trainers also to join the firm. There is one trainer known as CPA Amina Kisesa who we trained together in one of the partnership firms known as Hybrid Financial Consultants in the year 2023. She was a good trainer with commitment in her job. Recently we plan to join hands with more female trainers in the firm, as you can see we have CPA Hilda as the owner, we consider female in every part of the organization.