Stop borrowing for lifestyle, start saving for life

DAR ES SALAAM: The Executive Secretary of the National Economic Empowerment Council (NEEC), CPA Beng’i Issa, has delivered a message that many young Tanzanians may not want to hear but absolutely need to: Your dreams cannot outrun your spending habits.

In his characteristically direct tone, he urged young people to develop the discipline of saving money and abandon the increasingly common lifestyle of spending more than they earn.

Beng’i shared this advice in Dar es Salaam over the weekend while launching the Chase Your Dreams Foundation, a new organization poised to become a source of motivation, mentorship, and practical support for young Tanzanians looking to transform their dreams into tangible achievements particularly in the fields of education, entrepreneurship, and economic empowerment.

According to her, no dream, no matter how brilliant, survives reckless spending. He gave the example of a young person receiving ten thousand shillings only to spend fifteen thousand, an equation that neither mathematics nor the economy can forgive.

“When you get ten thousand shillings, spend five thousand,” she said, cutting straight to the point. “Do not spend beyond your income, otherwise you’ll end up borrowing just to consume—yet loans are meant for business development or investment, not for entertaining your weekend lifestyle.”

With the arrival of the Chase Foundation, Beng’i believes youth development efforts have gained a new partner and a fresh wave of motivation.

He expressed confidence that within five years, the foundation would have reached a significant number of young people across the country, changing the trajectory of many lives.

Beng’i emphasized that Tanzania’s progress rests heavily on the shoulders of its youth. For this reason, he said his office will continue prioritizing youth-centered programs and partnerships.

“The development of a nation depends on its youth,” he affirmed.

“The government is ready to work hand in hand with institutions like this one to ensure that young people achieve their goals and contribute meaningfully to national development.”

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According to her, success is rarely accidental. It demands planning, persistence, discipline, and the courage to take action even when the journey feels uncertain.

“Once you have a dream, you must have a plan to fulfill it. You cannot dream and then remain idle. Dreams are not built by words but by actions and discipline,” she remarked.

While urging young people to engage in productive activities, he also warned against idleness the silent dream killer. The government, she said, remains committed to youth empowerment, including President Samia Suluhu Hassan’s plan to establish a dedicated Ministry of Youth, as stated during the inauguration of the 13th Parliament.

Beng’i also encouraged young people not to fear the challenges that come with pursuing success. Life inevitably involves failure, she noted, but failure is not a verdict it is a lesson.

“If you fail, rise again. Do not fear undertaking big endeavors,” she advised.

She further emphasized the importance of financial stability, describing the economy as a key pillar of a person’s respect in society and even within the family. A lack of financial footing, he cautioned, can lead to unnecessary
humiliation—whether in marriage, extended family dynamics, or social spaces.

Beng’i extended his advice by reminding young people to actively utilize the many opportunities provided by the government. These include special public procurement windows for small groups, youth and women’s loans, disability loans, and involvement in large-scale development projects happening across the country.

On her part, Lightness Makondo, the Director of the Chase Your Dreams Foundation, explained that the organization was born out of the real struggles facing Tanzanian youth—struggles that prevent them from reaching their potential, whether due to lack of resources, inadequate mentorship, or limited access to
professional guidance.

“Every young person has a dream that can bring great change to society. But a dream that is not implemented remains a vision without direction,” she said.

The foundation, officially launched in March 2024, currently runs five flagship programs designed to uplift, educate, and empower youth. The After School Giving Program provides guidance to school leavers, helping them navigate the uncertain transition into adulthood and shape the direction of their futures.

Another is the Entrepreneurship Development Program, which supports youth in identifying opportunities, starting businesses, and growing them with proper skills and knowledge.

Makondo highlighted the Light Vikoba Program, a savings and investment initiative designed to instill financial discipline in young people—a theme clearly aligned with Beng’i Issa’s message.

The Giving Back Program focuses on community support through various services and projects, while the Capacity Building Program has already trained 1,200 young people in education, entrepreneurship, and financial management.

Makondo noted that the establishment of the new Ministry of Youth will serve as an important bridge between the government, youth-focused institutions, and the young people they aim to empower. She described the foundation as a “new light” for Tanzanian youth—a call to rise, plan, act, and seize available opportunities.

“Dreams are not built by words; they are built by action, discipline, planning, and courage,” she emphasized.
Representatives from other youth organizations echoed this spirit. Joanitha Jeremiah from the Visionary Youth Organization urged young people to use social media productively—for learning, networking, business, and development—rather than for arguments, insults, and the performance of false lifestyles.

Lawyer Fredric Usiku added a powerful warning: fear is the thief of potential. “If you fail to make decisions, you will fail to reach where you want to go,” he said.

He noted that successful entrepreneurs are those willing to sacrifice, learn, and take action even when the path is uncertain.

Fashion designer Feith Debora commended the Chase Foundation for stepping up to support young people, noting that youth often lack support from their peers. The foundation, she said, is filling a crucial gap.

In the end, the overriding message was clear: dreams are achievable, but not through wishful thinking or reckless spending. With discipline, planning, courage, and the right support systems, the youth of Tanzania have the power to transform not only their own lives but the nation as a whole.