Mkenda launches NBC student business competitions

DAR ES SALAAM: THE Minister for Education, Science and Technology, Prof Adolf Mkenda, has launched the NBC Essay Writing Challenge and Business Idea Competition aimed at promoting entrepreneurship and financial literacy among secondary school students across Tanzania.

The initiative is a collaboration between NBC Bank, the Ministry of Education and the President’s Office – Regional Administration and Local Government (PO-RALG).

It targets over one million students from public and private secondary schools. Winners will receive various prizes including laptops, books, mobile phones and cash, with the overall winner awarded 10m/-.

The top 200 students will join the NBC Student Mentorship Club for training in financial literacy and entrepreneurship.

Speaking at the launch held at NBC headquarters in Dar es Salaam, Prof Mkenda said the competitions provide a platform for students to engage with real-world economic issues.

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He urged ministry officials to ensure wide dissemination of the competition information to reach schools nationwide.

NBC Managing Director Theobald Sabi said the initiative responds to data from the FINSCOPE 2023 survey, which showed that only 35 per cent of youth under 25 hold bank accounts.

“All cash prizes will be deposited into NBC accounts, either through the NBC Student Account or the Chanua Account for under-18s,” he said.

Sabi added that the competitions aim to foster saving habits, responsible financial behaviour and basic business skills. He thanked partners including APE Booksellers, who donated 3,000 books and additional cash prizes. Feedback from schools has been supportive.

Makongo Secondary School teacher Ivan Danda said the competitions would strengthen students’ financial discipline and business acumen.