Can IoB achieve its mission?


The global financial crisis of 2008, rooted in the banking sector, has vividly demonstrated the importance of continuous investment in training and education of the banking community throughout the world.

Banking education is vital in ensuring effectiveness, professionalism and upgrading skills, which all add to the advancement of the industry and the economy in general. With that said, it then leads me to question the existence of the Institute of Banking (IoB), and its purpose.

According to IoB’s vision statement, they are determined to become the preferred banking and financial services qualification provider in Namibia and their mission is to be the leading provider of qualifications in the banking and financial sector.

After about seven years in existence, IoB has only managed to hold two graduation ceremonies, producing no more than 1500 graduates. Why are they not producing graduates annually like the Polytechnic, the International University of Management (IUM) and the University of Namibia (Unam)? What is the cause of all these inadequacies?

How can IoB aspire to be the leading provider of qualifications in the banking and financial sector if they are not living up to expectations? An institution that offers a three-year Advanced Diploma, rated Level 7 and recognised by the Namibia Qualifications Authority, but its teaching methods cannot even be compared to the Grade 12 Namcol (Namibia College of Open Learning) teaching standard?

Where have you seen an institution of higher learning that offers assignments without a table of contents, cover page, introduction, executive summary, a review of literature, conclusions or references? Ask any of the graduates from IOB and they will tell you what I’m talking about. I still want answers as to how this institution managed to get accredited by the NQA? The institution’s management and the way it’s wrought will only leave you with thousands of questions and few answers. Students have stressed the removal of the CEO John-Day Mundey, but their will has tumbled into unresponsive oracles.

It should be understood that for the country’s financial system to flourish, a lot of qualified intellectuals should be produced, and this can only be attained if we have principled institutions in the country. For IOB to triumph in its vision and mission, an urgent review of their curriculum and a radical policy shift in their management should be enacted instantaneously.

George DaSilva Hishitelwa
Walvis Bay


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