[ad_1]
The Banking Institute of Liberia (BIL), and Afriktech Solutions, a Liberian technology firm, have signed a memorandum of understanding (MoU) to offer capacity-building training in computerized accounting for Liberians working in the banking and financial sectors.
The partnership aims to enhance the skills of Liberian financial professionals in tools such as QuickBooks, Excel, Tally, and spreadsheets. BIL is a joint initiative between the Central Bank of Liberia (CBL) and the Liberia Bankers Association, designed to address the training needs of banking and financial sector employees and ensure they meet international professional standards.
In an interview on Wednesday, January 15, 2025, at the BIL office in Monrovia, Assistant Prof. Richard Panton, Executive Director of the Banking Institute of Liberia, explained that the partnership seeks to bridge the gap between traditional manual accounting methods and modern financial management skills taught in universities across Liberia.
He highlighted that many students graduating from universities and professional schools are seeking practical skills to improve their marketability in the job market. In response, the institute has decided to equip them with hands-on experience that will help them compete for jobs alongside their international counterparts.
Further elaborating on the need for the initiative, Panton pointed out that many Liberians lack practical skills, which often results in foreign nationals being hired for available positions. To address this issue, BIL has created Public Engagement Programs with two components: a Certificate Program for university graduates and a Professional Development Program for high school graduates and those working in the small and medium enterprise (SME) sector.
“We were fortunate to partner with Afriktech Solutions, a Liberian technology firm, to offer a program in computerized accounting. This will teach accountants how to use QuickBooks, Tally, Excel, and other relevant financial management software. We are currently in the preparatory stages and will be rolling out the program in the coming weeks,” Panton said.
He further explained that the accounting profession has evolved from manual to technology-based systems. However, many universities in Liberia still teach business administration programs, including accounting, management, and economics, using outdated manual methods. As a result, graduates often struggle to apply modern technology in their professional work.
Sign up for free AllAfrica Newsletters
Get the latest in African news delivered straight to your inbox
“Many students are graduating without the practical skills needed for today’s job market. When they are given the opportunity to use computer software for financial and accounting tasks, they often lack the knowledge because these practical skills are not taught in university classrooms,” Panton said.
He also shared that there has been significant interest in the program, with many Liberians who have graduated in financial fields expressing a need for training in tools like QuickBooks, spreadsheets, and other relevant software. Many of these graduates are finding it difficult to secure jobs due to their lack of technical skills.
[ad_2]
Source link
