MICHAEL J. KAMBI
Michael Kambi is a seasoned financial expert with focus in economic evaluation of extractive industries in Tanzania. He graduated for BCom in 2002 and MBA in 2007 both from University of Dar-es-salaam. Michael obtained professional qualification in accountancy, CPA and Supplies Management, CPSP in 2004 and 2006 respectively. His professional aptitude is backed up by training in mineral economics and management of extractive revenues particularly graduate courses attended at University of Sydney, University of Pretoria and Econ-Poyry of Norway between 2011 and 2014. Michael has earned wide hands-on experience in public service, professional consulting and scholarly writing.
Michael commenced his professional career in 2002 after graduating for BCom degree where he worked with an International Auditing firm namely PwC. He moved from private audit to public service, effective from July 2004 after joining the National Audit Office and worked as Auditor and later as Senior Auditor charged with audit duties for National Accounts and Treasury up to April 2008. He was recognized by Controller and Auditor General with award of Best Audit Report for year 2006 while serving as 2nd In-charge for audit of Treasury National Accounts and Public Debt Votes.
Michael was one of founding experts of the so called Investment and Taxation Unit under the Gold Audit Program (GAP) in May 2008. Gold Audit Program was established to take-over duties of Alex Stewart Government Business Corporation (ASAGBC), a private consulting firm which had a contract with Government of Tanzania to perform monitoring and audit of large-scale gold mines operating in Tanzania from 2003 to 2007. GAP was succeed by a full scale executive agency, charged with wider scope of duties, namely Tanzania Minerals Audit Agency (TMAA). While serving as Financial Analyst for GAP, Michael received an award for outstanding performance in clearance of long-standing audit backlogs within a span of one year.
Upon establishment of TMAA in 2009, Michael was promoted and appointed to be the Manager for Financial Analysis and Audit, the substantive post held to date. His portfolio at TMAA include management of teams performing financial analysis and audits of eight (8) large mines, more than thirty (30) active medium-scale mines. He is also charged with duty to evaluate economics of mining investment proposals to the Government. Michael has been recognized for invaluable contribution to foster revenues from mining sector.
Beside regular public duties, Michael is currently serving as a member of the National Technical Team for Revenue Forecasting in Mining, Oil and Gas and Member of Government Negotiating Team for Mining Investments. The revenue forecasting team is made of 20 experts from key public institutions. The team is made of experts representing institutions mainly responsible for development of policy and management of extractive natural resources. These are Ministry of Energy and Minerals; Ministry of Finance; President’s Office Planning Commission; and Bank of Tanzania. Other Institutions are Tanzania Revenue Authority; National Bureau of Statistics; Tanzania Petroleum Development Corporation; Tanzania Minerals Audit Agency; and Tanzania Extractive Industries Initiative. The team was established to build capacity in extractive revenue forecasting as inputs to national budget and economic plans and sector’s public policy. Michael has made notable contributions to the aforementioned teams particularly in development and application of financial models.
Michael is an active Partner for KMC Associates, a business advisory and accounting firm which he co-founded in August, 2007 soon after obtaining a certificate of public practice from NBAA and accomplishing coursework for his MBA. KMC Associates is thriving private consulting firm with market niche and connections in medium scale businesses in East Africa Region.
Michael is motivated in scholarly writing, he has authored several publications in discipline of Mining, Business Strategy, Petroleum and Mining Fiscal Policy, Accountancy, Procurement Management and Financial Audit. He is currently looking into research work in the area of Natural Resources Economics which will result into publication of thesis to be titled either
Assessing Effectiveness of Economic Financial Indicators in Valuing Mineral Project: Case Studies from Tanzania.
Inherent Economic and Financial Risks Associated with various Methods in Valuing Mining and Petroleum Projects and their Implications on Project Financing. OR
Application of Valuation Methods (Real Options and DCF) to Analyze and optimize Production Sharing Agreements, Resource Development Agreements and the Effect of Contractual Investment Controls: Case Studies from Tanzania