Historical Background

Home

The Long and Exiting Journey for ZCAS

The Zambia Centre for Accountancy Studies (ZCAS) was incorporated under Act No. 1 of 1989 as a self-financing, non-profit making body with the mandate to train professional accountants, improve the standing of the profession in Zambia and undertake consulting activities. Until 1988 there were no facilities in Zambia for professional accountancy qualifications at a higher level and students had to rely on accountancy colleges abroad to achieve their qualifications. Very few Zambians were getting through the final level of professional examinations. Consequently, the gap between demand and supply continued to widen and the country had to employ a lot of expatriate accountants.

Some prominent members of the profession with the Government and various donor organisations for the establishment of an accountancy training college within Zambia undertook concerted and vigorous lobbying. The whole rationale behind the Centre is that it aims to provide the same or better accounting tuition as would be available in overseas training colleges. It was also expected that it would save considerable foreign exchange and improve the pass rates significantly.

In 1988, the Ministry of Finance and Economic Development (MOFED) and the European Union (EU) addressed the problem and established ZCAS. An interim management committee chaired by Mr George Sokota was set up in September 1988. This Committee consisted of various parties including the EU, Government ministries, parastatals and professional firms. Mr Filoni, the EU delegate, personally represented the Mission as a member of the Committee.

The Centre was first located at Evelyn Hone College as it did not have any facility of its own. The sixth floor was extensively refurbished and a new seventh floor was constructed with the assistance of the EU. The EU also financed a Technical Assistance team of five accounting lecturers from Ireland and England.

Initially, there were no hostels available and only Lusaka based students used to take advantage of the training facilities. In 1991, the Zambian Government provided a building on Freedom Way, the Old Bwacha Hotel and after some refurbishing and renovations, it could accommodate 67 students. Later on, fully furnished rooms and classrooms were acquired at Makishi Road and Herbert Young Hostels to accommodate another 60 students.

In March 1999, ZCAS moved into the modern complex on Dedan Kimathi Road, which was constructed with the help of the EU, NORAD and DANIDA. However, nearly a quarter of the total cost of US$7 million was financed by internally generated funds. This complex has twenty spacious and well-equipped classrooms, two lecture theatres, three computer laboratories, a large resource centre, gymnasium and student hostels with 342 self-contained bedrooms. The facilities are available for conferences and workshops.

Though to begin with ZCAS offered tuition only for the Association of Chartered Certified Accountants (ACCA) and the Chartered Institute of Management Accountants (CIMA) courses, it has gradually broadened its portfolio.

A number of new courses were introduced namely Degree in Accountancy 1995, Chartered Institute of Public Finance and Accountancy (CIPFA) 1995, CIMA Bridging Course 1998, ACCA Technician Course 1998, Institute for the Management of Information Systems (IMIS) 1999, B.Sc. (Hons) in Computing and Information Systems 2002, Diploma in Banking and Finance 2004, Diploma in Project Management 2004, Chartered Institute of Marketing 2007 and Association of Business Executives 2007.

ZCAS has acquired international recognition for the quality of tuition it provides. It has produced consistently high examination pass rates and currently boasts of carrying the prestigious ACCA €˜Platinum€™ status. Due to its outstanding reputation as €˜The Centre of Excellence in the Delivery of International Education, ZCAS now attracts students from many countries in the SADC region and beyond. The Centre has in the past years continued to develop the market and will continue to do so by introducing other educational global brands such as CIM and ABE which were introduced in January 2007.

The student population at the Centre has witnessed a steady growth since its inception. Altogether with day and resident students, the Centre has an enrolment of more than 2000 students. This compares with less than 75 in 1989. This huge increase bears ample testimony to the reputation it enjoys in Zambia and the region. Over the years, the Centre has also attracted students from other countries such as Botswana, Malawi, Zimbabwe, Swaziland, Tanzania, Kenya, Burundi, Ethiopia and Rwanda.

The pass rates at ZCAS are high with an average pass rate of 65 per cent compared to 40 per cent worldwide. The number of qualified accountants produced by the Centre stands at nearly 1,000 consisting of members of both the Association of Chartered Certified Accountants and the Chartered Institute of Management Accountants. Currently, the Centre is producing nearly 110 fully qualified accountants a year. There are also many more part qualified accountants who are able to make a valuable contribution to the Zambian economy in both the private and public sectors.

Computer courses are also proving to be highly successful. Several ZCAS students have won Gold Medals for coming top in the world.

ZCAS is now becoming much more active in consulting work. Various projects have been undertaken or are in progress that build on the experience and expertise of the highly qualified professional staff at the Centre. As a Zambian based organisation with an international reputation for the high quality of its work, ZCAS is in a position to offer excellent service to the Government, private sector and donor community. The development of consultancy work in Zambia and across SADC and COMESA is seen as an important step in the progress of ZCAS. Lecturers from ZCAS are delivering accountancy training programmes in South Africa and Zimbabwe.

Several courses and workshops have been delivered on behalf of government departments with the support of the donor community. These include Financial Management for the Ministries of Health and Education, Detection and Prevention of Fraud for the Ministry of Finance and Activity Based Budgeting for several Ministries. The portfolio of work undertaken at ZCAS is growing all the time. Internet courses have been provided for several NGOs as well as advice on website design. More and more clients are satisfied with the high quality of the services that are provided. This is reflected in the fact that the Centre is being approached not only for training and workshops but also to bid for projects and consultancy work. This means that international expertise can be combined with local knowledge and experience to provide unique solutions to the problems that face public and private sectors. In summary, ZCAS is an institution of which Zambia can be proud.