FOR OVER HALF A CENTURY Msalato Theological College has met the challenges to produce outstanding clergy and support people for the Diocese of Central Tanganyika and beyond. However, in today’s world these challenges have become unsustainable. Volatile economic markets and increasing institutional requirements have accentuated a chronic dependence on outside donations. A new strategic direction was needed.
In 2008, our administration and advisors, both in Tanzania and in the US, began planning the best way to meet the increasing costs of student scholarships and quality faculty. Global and Tanzanian expectations are such that MTC must now meet the same standards as Western institutions. It must provide the same technologies, modern facilities and academic excellence that heretofore have been available only in affluent countries.
Coming to the realization that nowhere in the world are the costs of education paid for by tuition alone, an endowment fund was deemed the optimum way forward to achieve projected demands. Expert consultants from the Diocese of Atlanta and Virginia Theological Seminary were pivotal in designing a comprehensive roadmap. Their guidance formulated how and where the endowment fund would be based, overseen, and managed. To insure the fund’s sustainable operations, procedural measures were incorporated for translucent and accountable maintenance.
FACTS AND FIGURES
- Official Name: Footsteps in Faith Endowment Fund
- Managed by: The Long Term Investment Committee of the Diocese of Atlanta
- Goal: $1,000,000.00
- Investment Value: Competent African leaders with the spiritual integrity to peaceably lead Tanzania out of disease and poverty to health and hope
ECONOMIC & SOCIAL CIRCUMSTANCES
- Tanzania is one of the poorest countries in the world.
- Over 85% of the people of Tanzania are subsistence farmers.
- Dodoma region is a desert plain with only one erratic rainy season per year.
- Drought and famine, with their incapacitating miseries, are chronic obstacles.
- Chronic inflation, inadequate infrastructure, unemployment (50% of the population under 30) contribute to Tanzania's status of a least developed country.