2 hours ago - | by Peter Bwanali
Sustainable Development
MUBAS gets awarded for good financial governance
The Malawi University of Business and Applied Sciences (MUBAS) has achieved a significant milestone after being certified at the Gold Tier level under the ARS 1651:2018 Good Financial Grant Practice standard. The certification, issued following an audit by KPMG Kenya is aligned with standards set by the African Organization for Standardization.
MUBAS gets awarded for good financial governance systems

Head of Research and Innovation at MUBAS, Dr. Madalitso Tsakama said the accreditation reaffirms the university’s commitment in maintaining and strengthening robust governance systems and upholding integrity.


‘’The Gold Tier represents an advanced level of compliance under the GFGP standard. It indicates that our internal controls, procurement systems, financial reporting mechanisms, and risk management processes have been rigorously assessed and meet high governance benchmarks. Achieving Gold Tier places MUBAS among institutions on the continent that operate under robust financial stewardship systems.


‘’This accreditation gives MUBAS credibility at both local and international level and is a good path for developing partnerships and collaborations around the world,’’ said Tsakama.


He also added that the accreditation gives the university a strategic advantage when applying for research grants and development funding as many funding agencies and development partners place strong emphasis on governance, fiduciary responsibility, and risk management.


Tsakama said the GFGP status serves as independent assurance that MUBAS has reliable financial systems capable of managing donor funds effectively and responsibly and he encouraged MUBAS staff to use the accreditation as a springboard for advancing the University’s research and innovation agenda.