DAR ES SALAAM: THE Hazina Savings and Credit Society (Hazina Saccos) is emphasising the importance of financial literacy for children to ensure they make informed financial decisions in the future.
Hazina Saccos Chief Executive Officer Mr Festo Mwaipaja spoke on the need of financial literacy during a recent club competition featuring ten secondary schools from the Dar es Salaam region.
“This early financial education fosters good habits and attitudes towards saving, spending, and investing,” Mr Mwaipaja said. The clubs not only aid students in accessing loans for educational expenses but also support parents in managing their business and savings. “Many people lack knowledge about savings and financial literacy, which is why we are committed to equipping teenagers with essential financial skills,” he added.
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A Form Six student at Kisutu Girls Secondary School Ms Dorcas Tarimo said these clubs are helping them to develop a saving culture.
“Previously, we would spend our pocket money unwisely and then ask for more. Now, we are learning how to manage and save it better,” Ms Tarimo said.
Hazina Saccos Club General Secretary Mr Daniel Mwakyambiki said phase one of the programme has successfully reached ten schools—Tambaza, Kisutu, Kinyerezi, Makumbusho, Kigogo, Mzimuni, Kabangwa, Minazi Mirefu, Turian and Migombani.
“We began with schools in Dar es Salaam due to the high number of schools and students. In phase two, we plan to extend the programme to schools in Dodoma and Singida regions,” Mr Mwakyambiki said.
