ACKNOWLEDGEMENT

The accomplishment of this study has been supported by different people and Corporation.
Special Appreciations to Almighty God above the earth who created the Universe and all
creatures in it, I would like to extend my indispensable gratitude to him who gave me
strength, wisdom, health, Knowledge and guidance during the whole time of writing this
report.

I would like to express my special Thanks to Institute of Finance Management for providing
me an opportunity for the practical training and resource personnel who guided me in writing
the field report.

I am also grateful to the NATION AL INSTITUTE OF FINANCE MANAGEMENT and its

staff members including my Internal Supervisor Dr.Shuffa with my field report supervisor
Mr.Rajab kufikiri other staffs for their valuable guide, support and encouragement from the
beginning to the end of my practical Training report.

I am Also Grateful to The NATIONAL HOUSING CORPORATION pang Brach staff

members from The Branch Managing Director Madam Mectilda mihayo, Estate Officer In
charge madam Mwasiti, Human resource Officer madam Flora, Estate Officer Rifat shakur,
Financial and Accounting Manager Simon Mhiliwa, with other financial official Officers
madam Nancy and Zabron Masalu For Their Financial Support on Meals, Bus Fare and
Allowances On Their Whole Time Of Training From 1st August to 30th September.

On the Other Hand, it would be difficult to mention everyone who supported and participated
fully or partially during my whole Practical Training but I cannot forget to give thanks to my
friends, relatives and my lovely parents for their whole Care.
 EXECUTIVESUMMARY

This field practical training was conducted in the National Housing Corporation (NHC) at
Dar Es Salaam Ubangi Branch. The former NHC was established by Act of Parliament No.
45 of 1962, while RoB was established by Act No. 13 of 1971. NHC is under the Ministry of
Lands, Housing and Settlements Development.

The field practical training was for eight (8) weeks, whereby in those eight weeks, On the 8
weeks of Practical Training I worked On the Department of Accounting and Finance which Is
Commonly related to my Course of Study at Institute of Finance Management.

Hence my time at the NHCI performed The Following Activities;

Registering of new Tenants and Debtors, Transferring of payments To Brokers, Unemployed

workers on various projects, issuing payments to Companies in Projects with NHC like
TANESCO, DAWASCO, Food and Water suppliers. I also perfumed Tasks of Payment
vouchers on Task Forces, Project Works on Construction and Repairmen.

This field report it has been organized in form of chapters where by chapter one introduction
contain objective of the field, historical back ground of National Housing Corporation,
historical Background of NHC in Tanzania The former NHC was established by Act of
Parliament No. 45 of 1962, while Rob was established by Act No. 13 of 1971. NHC is under
the Ministry of Lands, Housing and Settlements Development. National Housing Corporation
(NHC) was reconstituted through Act No. 2 of 1990, to carry out the role of providing and
facilitating the provision of housing and other buildings in Tanzania. This Act was amended
through written laws (Misc. Amendment) Act No. 2 of 2005 to enable the corporation
conduct its business on sound commercial principles to date.

2
 LIST OF ABBREVIATIONS

Board of Directors - BD

Director General - DG

Legal Service Unit - LSU

Financial and Accounting Management Unit - FIAM

Chief Internal Auditor - CIA

Procurement Management Unit - PMU

Risk Management Unit - RMU

Construction and Engineering Directorate-CED

Property Management and Marketing Directorate - PMMD

Works and Civil Engineering SectionPlant and Process Engineering Section - WCeSPPeS

Facilities and Real Estate Operation Section -FREOS

Real Estate Valuation and Allocation Section - REVAS

Sales and Marketing Section - SMS

Business Development Directorate - BDD

Investment and Business Development Section - IBDS

Project Management Section - PMS

Business Support Services Directorate - BSSD

Human Resource Management Section -HSSD

Regional Accountant - RA

National Housing Corporation - NHC

3
Institute of Finance Management - IFM

Tanzania Inter-banking Settlement System - TISS

Enterprise Resource planning - ERP

Upanga - UPA

Temeke - TEM

Ilala - ILA

Kinondoni - KIN

Dar es salam Metropolitan - DMP

Government Electronic Gateway - GEPG

Property Management Information System – PMIS

4
TABLE OF CONTENTS

5
 CHAPTER ONE

1. INTRODUCTION

1.1. Chapter Introduction -The field report is the social science that describes the
observation of people, place, and/ or event and on the observation data. This chapter
describes the meaning of field report, the place where field practical Training was
conducted, the schemes of National Housing Corporation.

NHC and its objectives, the organization structure and the review of the industry that NHC
work within.

6
1.2 OBJECTIVE OF FILED

This field practical training was conducted at the NHC, UPA Branch in Dar as salaam,
District zone report is to correlate the theories that are b1eing relayed in class and trying to
link them up with the practical training, thus this helps in providing a sense of understanding
in the applicability of the theories and having a chance to experience the way different
activities and situations are being handled in the organizations.

1.3 GENERAL OVERVIEW OF NATIONAL HOUSING

CORPORATION IN TANZANIA
Tanzania Invest NHC Tanzania’s National Housing Corporation (NHC) is the Government’s
company established to undertake an array of businesses in real estate: Construction of
houses for sale. Construction of buildings as part of an approved scheme. Facilitating the
provision of building materials, components, concrete articles, and other related articles.
Business of building contractors, planners, or consultants. Renting out and managing houses
or properties built by the corporation and those acquired by the government. Carrying out
other activities related to the construction of houses or other buildings built or acquired by the
corporation. NHC Director General, Mar. Nehemiah MCHECHU was the former MD &
CEO of Commercial Bank of Africa Tanzania Limited who has propelled NHC to be
included among the largest real estate developers in East Africa. “NHC is also one of the
largest real estate companies in Sub-Saharan Africa in terms of property base. It owns nearly
20,000 housing and commercial rental units located in almost all of the major urban areas of
mainland Tanzania.” NHC has a number of modern and innovative real estate projects in Dar
as Salaam and throughout Tanzania that are completed or under development and that are
open for investment: https://www.nhc.co.tz/en/

Read more at: https://www.tanzaniainvest.com/nhc and follow us on

www.twitter.com/tanzaniainvest

SCHEMES FINANCING
The scheme is financed by the purchase of Share Holders, New Houses, Apartments, Estates,
Tenant fee, Rental Fee and Debtors of The projects.

7
 SCHEME INVESTMENT
The fund obtained Is Being used to invest in new projects Like Iyumbu Estate investment,
Victoria project, Kijichi project and the former projects like Shekilango project and Upanga
projects which were Owned By NHC since 1967 after the Nationalization.

COMPETITORS OF NHC
Understanding the competitive environment is critical to determining how best NHC can
position itself to outperform competitors.

In doing so, it is important to understand who the competitors are and the intensity of
competition in the chosen market.

The Tanzanian’s real estate market is still young and is characterized by few institutional
players. The key players include NHC, NSSF, LAPF, PPF, PSPF and most recently TBA and
WHC. Private developers are also beginning to take a key role in the real estate market for
example AVEC INTERNATIONAL.

BARRIERS TO ENTER THE INDUSTRY

Barriers to entry mean that there are factors that will prevent a firm from entering an industry.
They do not exist in a pure and monopolistic type of competition. However, both monopoly
and oligopoly have barriers to entry. This can be in the form of economies of scale and
marketing barriers, among others.

Some of the barriers to entry for real estate development are capital or investment,
regulations, and experience. Developing land for real estate, regardless of use, requires a
large amount of capital to see it through from inception, construction, and sale. Some areas or
countries have stricter regulations for building new real estate than others, so this can keep
some companies from entering the market. Finally, experience refers to being able to enter
the market successfully. Without being able to market themselves to potential buyers well, a
potential entrant faces little to no demand for their service. Threats posed by substitute
product in the real estate industry substitution depends on the purpose of the demand.
Customers are mainly divided into two groups those who buy to invest and those who buy for

8
personal use. The threat of substitutes in the real estate was pretty high in the booming days,
as exchanging one property for another in a new project was very easy, switching cost was
very low and societies there was even revenue. Unlike today, people sell their properties if
and only if they need cash because the cost of substitution for any other alternative is very
high.

Vision

“To be a leading Real Estate Development and Management firm. “To provide and facilitate
the provision of quality housing and other buildings for use by the general public while
operating on sound commercial principles.

Mission

“To provide and facilitate the provision of quality housing and other buildings for use by the
general public while operating on sound commercial principles.”

Core Values

The core values of NHC revolve around:

Professionalism

Efficiency

Transparency

Integrity

Team work

Innovativeness

9
These core values reflect the NHC ideals and principles and hence serve as guidelines for the
Corporation as well as its officials in the conduct of their responsibilities.

ORGANIZATION STRUCTURE OF NHC

10
1.4 REVIEW OF THE INDUSTRY THAT THE NHC IS OPERATING

Main activities related to supplier the current National Housing Corporation is the outcome of
the decision of the Government to dissolve the Register of building (RoB) through Act of
Parliament No.2 of 1990, which vested its responsibilities with the NHC. The former NHC
was established by Act of Parliament No.45 of 1962, while RoB was established by Act
No.13 of 1971.NHC is under the Ministry of Lands, Housing and Settlements Development.
The Ministry is represented by the Board of Directors which is responsible for the corporate
policies and strategies. The day to day management of NHC’s business is overseen by the
Director General who is responsible to the Board of Directors. Effective from July, 1994, the
Corporation’s portfolios have been divided into profit centres which are income generating
and self-sustaining directorates and cost centres which play a supportive role. This role
mandates the NHC to undertake an array of business. Construction of houses for sale.
Construction of buildings as part of approved scheme. Provision of facilitating the provision
of building materials, components, concrete article and other related articles. Business of
building contractors, planners or consultants. Renting out and managing houses or properties
built by the corporation and those acquired by the government. Carrying out other activities
related to construction of houses or other building built or acquired by the corporation. Main
activities related to Buyers are the segment that purchases properties for their own used to
live in. The main threat for this segment is renting. Before people who had some savings
preferred to get some support and purchase their own place instead of spending so much on
renting and at the end of the day they still possess nothing. But as the day mortgages are so
difficult, with tough conditions and renting prices have decreased people went back to
renting. There is no any threat of substitutes for the real estate industry in this segment other
than renting Competitors (key players) Understanding the competitive environment is critical
to determining how best NHC can position itself to outperform competitors. In doing so, it is
important to understand who the competitors are and the intensity of competition in the
chosen market. The Tanzanian’s real estate market is still young and is characterized by few
institutional players. The key players include NHC, NSSF, LAPF, PPF, PSPF and most
recently TBA and WHC. Private developers are also beginning to take a key role in the real
estate market for example AVEC INTERNATIONAL. Barriers to enter the industry Barriers
to entry mean that there are factors that will prevent a firm from entering an industry. They
do not exist in a pure and monopolistic type of competition. However, both monopoly and

11
oligopoly have barriers to entry. This can be in the form of economies of scale and marketing
barriers, among others. Some of the barriers to entry for real estate development are capital or
investment, regulations, and experience. Developing land for real estate, regardless of use,
requires a large amount of capital to see it through from inception, construction, and sale.
Some areas or countries have stricter regulations for building new real estate than others, so
this can keep some companies from entering the market. Finally, experience refers to being
able to enter the market successfully. Without being able to market themselves to potential
buyers well, a potential entrant faces little to no demand for their service Threats posed by
substitute product in the real estate industry substitution depends on the purpose of the
demand. Customers are mainly divided into two groups those who buy to invest and those
who buy for personal use. The threat of substitutes in the real estate was pretty high in the
booming days, as exchanging one property for another in a new project was very easy,
switching cost was very low and sorties there was even revenue. Unlike today, people sell
their properties if and only if they need cash because the cost of substitution for any other
alternative is very high.

12
13
 CHAPTER TWO

2. WORK DONE AND LESSON LEARNT

2.1 Chapter Introduction; Firstly We were introduced to the staff of the department
according to the rank also the Tasks that we were performing during our field practice with
equipment’s to be used and how to perform the tasks assigned example of equipment’s,
computers and books of Entities In this chapter will describe more about tasks that
undertaken during the field, The lessons learnt, the summary of Work-done and lesson learnt
based on departments worked on Weekly, and Lastly is to explain the challenges encountered
during Fieldwork. The tasks undertaken during the Fieldwork.

2.2 TASKS UNDER TAKEN; The Following Are the Tasks That Were Under Taken
Through the Whole Process of Field Work at NHC UPANGA Branch Accounting and
Finance Department,

2.2.1. PREPARATION OF TISS FORM; The preparation of TISS form including

customer details such as Cheque number beneficiary Name, bank account number, amount in
figure and amount in word, Bank name and Branch name, address Cheque dates and some
NHC details such as phone Number

2.2.2 THE PREPARATION OF CHEQUE LIST; Preparation of Cheque list this is done
for those suppliers who already provide the goods or services to NHC and those who want to
make an Impress to NHC and then later on they retire, there after we send to the Bank and
NHC head office to show the list of members who are going to pay.

2.2.3 PROCESSING PAYMENT VOUCHER; During the processing of payment voucher

the file concerning should be authorized by appropriate person such as Regional Manager
Regional Accountant and principle of accountant then the accountant should make payment
by considering the minute sheet from preserved file.

14
2.2.4 REPLACEMENT OF CHEQUE; This is done whereby the first Cheque by NHC is
dishonoured Cheque or insufficient or have got an error which make a Bank to refuse that
Cheque, this lead customer not to be paid so NHC issue new Cheque so that a member gets
his or her money.

2.2.5 PREPARATION OF CASH BOOK AND PAYMENT VOUCHER; The preparation

of cash book and payment voucher to request for replacement from head office to deposit the
branch account for payment, and to record Cheque received when benefit member make the
contribution thus Cheque are made with payment voucher and then attached together on
record Book.

2.2.6 GENERATING CONTROL NUMBERS; The NHC customers are paying their rental
bills through the control numbers, the control numbers are generated through the ERP system
via Gap.

2.2.7 STOCK RECONCILIATION; this is done by checking whether the equipment

received in the store for repair and maintenance of rental house are used or not. Lessons
Learnt

2.2.8 PREPARATION OF TISS FORM; Through preparation of TISS form, the lesson
learnt is that TISS form prepared when NHC use to pay a supplier amount which is more than
ten million or if a supplier or member requests to pay through TISS even though the payment
of supplier is less than ten million

2.2.9 PREPARATION OF CHEQUE LIST; Through preparation of Cheque list the lesson
I got here is that this Cheque list is very important because the one use to inform the bank
The supplier’s or member’s detail such as, Name of the member, who are going to be paid
and also use to request head office that we are going to credit some amount of money to
supplier account.

15
2.2.10 PREPARATION OF CASH BOOK AND PAYMENT OF VOUCHER; I learn that
how to prepare cash book and how to record the supplier who been paid by NHC this
conducted by using ERP System and Also I Learned how to create a payment vouchers,
preparation of cash book can be done in accountant office

2.2.11 DISPATCH OF PAID FILES FROM ACCOUNT OFFICE TOBENEFITS

OFFICE; The lesson I got here is that after paying those suppliers/members, benefits files
should sent to benefit office for self-keeping where always kept their until members come for
any claim or any kind of payment. Also after payment those benefit files must signed by
principal accountant and chief manager.

2.2.12 DISPATCH OF RECEIPT FROM DATA ENTRY; I learnt that a member

Contribute their fund in receipt office and receipt office give the customer receipt, The next
step is data entry office to record data to ERP System.

2.2.13 GENERATING CONTROL NUMBERS; The NHC customers are paying their
rental bills through the control numbers, the control numbers are generated through the ERP
system via Gap. Hence that I have experienced on how to generate control numbers so as to
give the customers for payment of rental bills.

2.2.14 PRINTING OF BOOKED VOUCHERS AND ISSUING PAYMENTS; This Is

Done on Every End of The Week After The Recommendation From The Branch Manager
And The Payments Where Being Made At The Finance and Accounting Office Under The
Supervision From The Accountant Manager Of The Branch.

2.2.15 BOOKING OF INVOICE; The Invoices Are Being Booked For Payment A Day
Before The Actual Payments Are To Be Made At The Branch This Is After The Receiving Of
The Tender Files From The Estate Office.

2.2.16 PRINTING OF BILS; The Process Of Printing New Bills To The Customers Is Done
On Every Month For The Customers To Pay Their Rental fees, Bills Are Issued For The
Customers Who Do Not Access Their Bills Through Their Phone Numbers.

16
2.2.17 DISPATCH OF RECEIPT FROM DATA ENTRY
What we do is to record receipt details in register book such as date of issuing receipt
members NHC Account number Ex UPA-5-BF-XXX-XX-XXX name of member, amount
and figure and after that send to the register and we make sure that the one who receive the
copy must sign in the registrar book.

2.3 LESSONS LEARNT

2.3.1 PREPARATION OF TISS FORM

Trough preparation of TISS form, the lesson learnt is that TISS form prepared when NHC use
to pay a member amount which is more than 10 million or if a customer or member requests
to pay through TISS even though the payment of customer is less than ten million. This Is on
Payment for the Exceeded Amount of Security Key-deposit, Tenders payment, Material
Suppliers payment and other of similar payments.

2.3.2 PREPARATION OF CHEQUE LIST

Through preparation of cheque list the lesson I got here is that this cheque list is very
important because the one use to inform the bank The customer or member detail such as,
Name of the member, who are going to be paid and also use to request head office that we are
going to credit some amount of money to customer account

2.3.3 PREPARATION OF REPLACEMENT LETTER

I learn that replacement letter is to request the head office to recover the amount of money
which is paid by NHC UPA to Tenants on Security Key deposit At the End of Contract, The
Tenant’s account and this is to make sure that the branch benefit account is liquid all the time.

2.3.4 PROCCESSING PAYMENT VOUCHERS

I learn that Every payment must be associated with supported document, checked by
appropriate person to ensure that payment are made to the appropriate member after signing
by the appropriate person such as chief manager or principle accountant then accountant can
make payment by considering the minute sheet from preserved files.

17
2.3.5 REPLACEMENT OF CHEQUE
I learnt that dishonoured cheque or any unfulfilled cheque will never be acceptable by bank
and without replacing it to Bank It means that NHC fail to make payment to members so
NHC must issue a new cheque to bank which have fulfil the customer amount.

2.3.6 PREPARATION OF DEPOSIT BANK SLIP

I learnt that this document is used to facilitate deposit of cheque and cash into a bank account
and copies of slip act as an evidence of money deposited into the bank statement

2.3.7 RECEIVING TISS FORM FROM CUSTOMER

Through receiving TISS from customer, I learnt that this TISS form mostly they used for
member who contribute the amount of more than ten million per month, it means that the use
reducing a risk to member to carry a lot of money in cash but almost Bank of Tanzania
require TISS for payment

2.3.8 PREPARATION OF CASH BOOK AND PAYMENT OF VOUCHER

I learn that how to prepare cash book and how to record member payments to NHC core
system management and how to create are voucher for NHC staff
Vouchers,Tenders,Brokers,Non staff workers and Short Time Workers Like Massons and
Electricians.

2.3.9 CHECKING OF WITHDRAWING FILES FOR PAYMENT

I learnt that verification of member files is very important when customer or member want to
make payment or anything concern about payment, those document inside the file are very
important during the payment process accountant office needs the clear information of benefit
member, if the benefit information is not qualified payment cannot done to beneficial

2.3.10 BALANCING OF MONTHLY REPORT

This is done in every end Of the Month so as To Balance on The Withdrawals and Deposits
on The NHC UPA Branch So As To Ensure There are No Uncertainties in the Account.

2.3.11 PRINTING OF PAYMENT RECEIPTS

After The Whole Process of Payments on Need To Have A Receipt That Shows The
Payments Are Made Either Fully Or Partially, In Case Of Security Key deposit Receipt Is
Being Printed In Blue and White Special Papers with The NHC Logo and The Signature of

18
the issuerer.The Blue Receipt Paper Remains At The Estate Office On The Particular
Customer's File For Future Reference.

2.3.12 PROCESSING OF PAYMENTS CONTROL NUMBERS

The Whole Process of Payments At NHC Should all Be Made On The Gap Control numbers,
This Is To Ensure Direct Collection for The Particular Branch Account with Its Collection
Code of 202 For UPA,204 For ILA,206 For KIN,208 For TEM And 243 For DMP.

2.3.13 PRINTING OF NEW INVOICE

On Every Beginning Of The Month The Customers or NHC Tenants Visit Their Branches
For Getting Their Gap control Numbers For Rent Payment of The Particular month Just For
Those Who Have Not Received Their Gap Control Through Their Mobile Phones.

2.4 CHALLENGES ENCOUNTERED DURING FIELDWORK;

The following are the challenges encountered by the student during fieldwork Shortage of
working tools like printer inks for printing various office documents and other supportive
documents for customer waiting for service provision, Also The Accounts Donor Have
Enough Trust On Field Worker With an Example From Me Since Some Of The Serious
Tasks Like Financial Reporting. Some document or records are not well systematics arranged
so this action may leads to the wastage of some important documents or records within the
Organization. The problem of network system, the network system in organization is very
slow that lead to reduce the work rate because of wasting of time Not only that but also the
organization should take a solutions that will eradicate those Challenges as follows;

The company should procure enough working too like printer inks for printing various office
Documents. The company should also be increasing buy enough chairs for customer waiting
for service Provision the Company also should improve their network system.

19
 CHAPTER THREE

3. ANALYSIS

3.1 CHAPTER INTRODUCTION The purpose of this chapter is to show, elaborate and
explain the link between the activities done during the field practical training and the theories
that are acquired in class, to show how they relate. The aim of the practical training is to
enable students to apply the knowledge from the theories developed during classes and relate
them into the practical training. Through the practical training it is where the theory taught in
class are put into practice and this increases the level of understanding on certain theories that
are elaborated in class since its practice is done in the practical training. Also it brings
confidence and helps gaining of confidence since there is a better understanding through the
practical training. Being familiar with the knowledge of real estate thus made it easy and
possible to conduct and engage in most of the activities efficiently, thus the terms which were
used by most of the staff were not new which made it easier to conduct the practical training
much more effectively. Relating the theoretical training I obtain at the Institute of finance
management and the things I recently learned while I was undertaking my practical training
at NHC Through the daily interaction with the NHC’s staff it made me more confident in
communicating with the variety of staff, communication skills where much more essential
since a variety of activities needed consultation with the supervisor and hence it made the
flow of activity conducted much more easier, thus the ways of communicating that were
taught during the first year were much more put into use. Provision of benefits at NHC, each
member is obliged to get his or her benefits when the time to attain such benefits reaches.

3.2 RELATION BETWEEN THEORITICAL TEACHING AND PRACTICAL

STUDIES; The gaps between the theoretical teachings provided at the IFM and the literature
or books consider acceptable versus what happened during the practical training conducted at
the NHC there are some gaps, these gaps are as follows. A major gap was observed in the
issue of technology, where most of the programs used in conducting the activities in the
National Housing Corporation were not in the institute curriculum, one among the technology
used that was completely new was the use of trans pad, this is a special device which is
portable and from it all the funds info can be linked, mostly used when the staff are out of
their daily working environment. Thus this was a challenge to a field student.

20
3.3 NEW THINGS LEARNT FROM THE ENTIRE PRACTICAL TRAINING;
socially, frequent interaction with the member staff made it easy to adapt to their way of life
in the estate. It was an experience learning how the staff members interact and associate with
one another while all of them focusing their hard work on the fund’s mission, vision and
objectives. Each staff member was accountable for his/her work, and also their moral values
observed the organization rules and regulations. Academically, most of the new knowledge
acquire is on the basis of contributions, how are contributions managed, what percentage
does the employer contribute for his/her own employees, the importance of delivering the
payments of contribution in time, the importance of widening coverage which in turn will
raise the contribution levels since the more people covered means the amount of
contributions will also rise.

3.4 REVIEW OF HOW THE EXPERIENCE HAS AFFECTED MY CAREER PLANS

AND AMBITIONS; In this part explains about how an experience I have, That has affect
my carrier plans and ambitions which are as follows, Self-development of my professional
identity, Applying classroom knowledge to the practice, Engaging policy practice to advance
social and economic well-being, Applying critical thinking to guide professional practice and
also it increased engagement in the learning process and fuel student’s desires to earn my
professional carrier.

CHAPTER FOUR

4. CONCLUSION AND RECOMMENDATIONS

4.1 Chapter Introduction; this chapter includes the conclusion section that summarized the
activities performed, the lessons learnt, the usefulness of field placement and key challenges
encountered. Also involve the Recommendation section that summarized the advisement to
both the company/organization and the institute (IFM)

21
4.2 Conclusion; training, thus it is safe to say that the field practical training is very
important for the development of a competent professional in the area of study. The
practicaltraining at NHC maximize the understanding of real estate, the way they operate,
administration of the scheme, also getting to know how the management of the scheme,
benefit payments for the eligible individuals, Rent collection and the overall coordination of
the activities in the corporation. The activities that I performed include; Arranging payment
vouchers, Stock reconciliation, Generating control numbers, Reconciliation impress and
retirement, Preparation of journal voucher, Making payments through Tess and Cheques,
Mortgage payment, Documentation to all payment vouchers, and arranging of files to their
cabinets Furthermore the practical training builds up confidence in interacting with different
groups of people; the company is made up by various departments, , also the ways to interact
with people from different levels of management, working with different people from
different departments also widen up the level of interaction between people in the company.
This helps in providing a sense of understanding in the applicability of the theories and
having a chance to experience the way different activities and situations are being handled in
the organizations Having these advantages there were also some challenges, among the
challenges was being involved in an eviction to remove those tenants who failed to pay their
rental bill, and also to supply notice that were responsible for our department and did not
reflect the theories that were taught in class. For example a student of Banking and finance
being placed in the department of estate. But all in all the working environment and
corporation from the staff members made it possible to consume the required set of skills that
an expert on Banking and finance should have.

4.3 Recommendations; My Suggestion Are Well Described Particularly As Follows

Beginning With NATIONAL HOUSING CORPORATION (NHC) And The INSTITUTE
OF FINANCE MANAGEMENT (IFM) Are,

22
 4.3.1 To National Housing Corporation (NHC)- Attachment of field student under a
two department which Is Accounting and finance department Only, for the whole period of
practical training, makes him/her to miss out on other opportunities that may have happened
if he/she was on rotation on different departments, that is a student rotates from one
department to another in certain time intervals, this will enable the field student to be most
familiar with the activities of most departments in an organization and understand the overall
activities of the fund, thus I recommend that the National Housing Corporation (NHC) should
consider interchanging and rotating the field students into various departments so as they can
extend their understanding on the fund

4.3.2 Recommendations To The To The Institute Of Finance Management (IFM)-

Two month period for practical training is not really enough time for a field student to grasp
all the required knowledge that is there about the organization up to the operation of different
activities including its processes. Hence there should be enough time, more than the time
period set at present which is of two months, more time is needed in order to come up with
well trained professionals. Furthermore; students should be taught in such a way that they can
be able to use theoretical knowledge in solving problems. The system of teaching in most
cases make students to spend most time cramming the materials instead of acquiring
knowledge to be applied in the real world solving organizations problems and hence have
positive impact in organization.

REFERENCES

NHC Strategic Plan 2015/16-2024/25

23
NHC Journal of 2019.

https://www.nhc.co.tz/en/?page_id=3678#:~:text=%E2%80%9CTo%20provide%20and
%20facilitate%20the,operating%20on%20sound%20commercial%20principles.
%E2%80%9D

24