BoT, WFP to boost youth financial literacy in agric

DAR ES SALAAM: THE Bank of Tanzania Academy and the World Food Programme have signed a Memorandum of Understanding (MoU) to enhance financial literacy in agriculture among the youth.

The partnership, through the Vijana Kilimo Biashara (VKB) programme, aims to boost incomes, improve food security and create jobs for the youth and women in agriculture over five years.

BoT Governor Mr Emmanuel Tutuba said in Dar es Salaam on Thursday at the event that the initiative aligns with the central bank’s broader agenda.

“This initiative supports our goals in agriculture and financial inclusion by equipping youths with financial education to promote productive, sustainable farming,” said Mr Tutuba.

As part of its commitment, WFP has pledged 100,000 US dollars to support the programme and build a robust platform for financial inclusion.

Currently being rolled out in seven regions Arusha, Manyara, Dodoma, Singida, Tabora, Shinyanga and Simiyu, the VKB project aims to empower 115,000 youths by 2027. Since its launch in 2022, it has already reached over 83,000 young people, around 70 per cent of whom are women.

Agriculture remains a cornerstone of Tanzania’s economy, employing over 65 per cent of the population and contributing nearly 30 per cent to the national GDP.

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According to the 2022 Population and Housing Census, over 64 per cent of the population is under 24, and 34.7 per cent are between 15 and 35.

The WFP Deputy Country Director Ms Christine Mendes called the agreement a milestone for empowering youths and smallholder farmers in Tanzania.

“This model promotes financial resilience by encouraging savings, improving credit access and strengthening investment capacity,” she said.

Acknowledging challenges like unemployment, limited education and resource constraints, Ms Mendes emphasised youths as a national asset.

“With proper investment in education, skills training, and employment, this young population can drive sustainable growth and national development,” she added.

The VKB initiative supports broader agricultural reforms under Vision 2050, fostering collaboration among public institutions, development partners, the private sector and financial actors.

The partnership between BoT and WFP represents a critical step toward building a financially savvy generation of agricultural entrepreneurs, essential for Tanzania’s longterm economic resilience.

By equipping youths with the tools to manage finances effectively, the initiative helps unlock the sector’s full potential, encouraging innovation and sustainable practices that can transform rural livelihoods.

Furthermore, the VKB programme’s focus on women and youth empowerment aligns with national priorities to promote inclusive growth and reduce poverty. Strengthening financial literacy in agriculture not only boosts productivity but also fosters greater economic stability and social equity across Tanzania’s rural communities.