On 17th June 2015, the Management of Mkapa Foundation held its 2nd annual meeting with partners and donors. The meeting brings together existing and new partners of BMF that include representative from the Government, Development Partners, Corporates and Non-Governmental Organizations.
The aim of the meeting was to exchange and share BMF annual performance and to highlight BMF upcoming plans and directions that it envisages to embrace and implement in the coming years.
During the half a day meeting which was held in Dar es Salaam, major issues were discussed in relation to annual performance of the organization in BMF p in-terms of programmatic areas, financial and institutional in general. Other fundamental matters discussed are related to the growth and sustainability of the Institution as the Management shared with Partners its five years Business Development Strategy and Plan covering the period 2013- 2018.
During the meeting, it was noted that it is timely for BMF as a non-profit making institution to anchor into self-sustainable strategies taking into account most of its programme and existence is inclined to donors and corporate funding support. Moreover as Tanzania is moving towards becoming a middle income country, there is anticipated donor aid shift, thus the need for the Government and Non- State organisations like BMF, to become more creative and strategic towards being financially stable in delivering social services programmes. BMF has embarked into implementing its Business development strategy by capitalizing on grants from donors, leveraging corporates donations through fundraising avenues, embarking into Investment opportunities, provision of Consultancy services and obtaining Government in-kind support.
The CEO of BMF Dr. Ellen Mkondya-Senkoro mentioned that the costed BMF Strategic Plan of 5 years is at Tanzanian Shillings 136 billion, equivalent to US $ 75 million and until January 2015, 42 percent of the funds have been secured and efforts are ongoing to leverage other resources to cover the 58 percent gap for the remaining three and half years. She further indicated that the Investment strategy of BMF is to be overseen by a Special Purpose Vehicle that will be an independent Business Company entity that will ensure in long term its profit supports the BMF programmes and running costs.
“Partners and donors attentively following the presentations during BMF 2nd Annual Partners Meeting”
Other sustainability aspects discussed in the meeting are the establishment of BMF Endowment Fund of US $ 1million by 2018 whereas the Foundation has taken off with its Trust funds allocation of Tshs. 65 million ( equivalent to US$ 36,111).
In the spirit of enhancing harmonization and effectiveness of aid and at the same time having multi-year funding to its Strategic Plan, BMF is to adopt the basket funding modality as from 1st July 2016. The basket funding concept was well received by most partners whereas constructive comments provided were related to the need of having a clear result framework of the Strategic Plan and a well-designed programmatic thrust which will be monitored with all partners to enhance transparency and accountability. The 1 year road map for this transition was shared with all partners and the CEO requested for their support in realizing the intended objectives.
“BMF’s Director of Programs Ms Rahel Sheiza exchanging words with Ms. Karen Zamboni from Irish Aid at the BMF 2nd Annual Partners meeting”
As they ended the meeting, the CEO of BMAF extended sincere gratitude to all existing and anticipated partners and donors of the Foundation and pledged for their continued support towards realization of BMF’s goals.