Affordable accountancy provider closing skills gap to empower SMEs

THE Chartered Accountants Academy (CAA) says it is working tirelessly to provide localised training solutions for small and medium enterprises (SMEs), developing programmes tailored to the needs of these businesses. Celebrating 15 years, the academy has bridged the skills gap by rolling out affordable personnel to help small businesses thrive. In an interview, CAA managing director Mr Elliot Wonenyika emphasised the importance of SMEs in driving Zimbabwe’s economy, highlighting the need to localise the accountancy profession for small-scale financial management services.

He emphasised that students must be equipped with practical skills to deliver accounting services to SMEs. “This initiative has not only helped to increase the number of accounting professionals in the country but also contributed to the government’s national agendas, including Education 5.0 and Vision 2030 of achieving an upper-middle-income society,” he said. “We started in 2011 when currency was unstable and sought to bring a homegrown solution, not only producing chartered accountants, but also affordable cashiers and financial technicians for small businesses.” Established to address the lack of local capacity in Chartered Accountant (CA) tuition and historically low pass rates, the academy introduced a structured, homegrown solution that has significantly improved access to and outcomes of the CA qualification.

In this regard, Mr Wonenyika said an affordable pathway for aspiring chartered accountants eliminates reliance on foreign tuition providers. “Before we came in, the challenge was that the postgraduate program was only being offered by the University of South Africa. There was no local solution,” he said.

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“Our coming in was to provide that local solution as a homegrown solution.” He said CAA expanded access to the chartered accountancy profession, producing as many graduates in 15 years as had been achieved in the previous 95 years. “Since the academy came into the mix, we have assisted more than 2 000 students who have gone on to qualify as chartered accountants.” By introducing affordable training and the accounting technician program, Mr Wonenyika said CAA extended professional services to SMEs, aligning with national economic priorities. “What was being done with South Africa was more expensive, but we have been able to make it more affordable,” he said. “We worked with the Institute of Chartered Accountants of Zimbabwe to develop another designation, the accounting technician programme, to provide accounting services to small and medium enterprises,” he said.

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