SILABU, bank partner in financial education to homes

DAR ES SALAAM: The National Bank of Commerce (NBC) has entered into a partnership agreement with SILABU APP, a company that provides supplementary education (tuition) services for pupils and students at home through the internet.

The collaboration aims to leverage SILABU’s network of teachers to deliver financial education and promote various banking services offered by the bank to their students. The initiative is expected to significantly improve students’ knowledge and understanding of financial matters, as well as the importance of savings from an early age.

The signing ceremony in Dar es Salaam yesterday, involved special training for the teachers of SILABU conducted by officials from the bank with the aim of providing them with sufficient knowledge on banking services and programmes specifically designed for teachers and students.

The training session was expected to effectively help the teachers deliver the education to their target audience when performing their duties.

Elaborating, NBC Education Services Manager, Yoabu Ndanzi, emphasized the importance of the partnership in reaching students and teachers more effectively. “This collaboration will provide us with a valuable platform to introduce our tailored services, such as the ‘Chanua Account’ and ‘Students Account’ for children and students, as well as the ‘Mwalimu Account’ for educators,” he pointed out.

Adam Duma, the Co-founder of SILABU noted that the approach will complement the company’s existing training package with the crucial addition of financial education. “We are delighted to see that our students will now have the opportunity to learn about savings, the use of financial institutions, and proper financial management,” Duma said.

As part of the agreement, SILABU will provide monthly deposits of 5,000/- to juniors’ Chanua Accounts, further strengthening the partnership and supporting their educational journey.

Teachers who participated in the training sessions expressed their gratitude to NBC for the valuable knowledge and opportunities provided, including access to the Mwalimu Account, Malengo Account, and the bank’s loan facilities.

Meanwhile, the bank also took the opportunity to launch the second season of its children’s sports programme known as “Chanua Football Clinic”, which will take place at the Gymkhana grounds in Dar es Salaam on June 1st this year.

Through the Chanua Football Clinic, all children with Chanua Accounts will be eligible to participate in this sports program. The criteria for new account holders are to have an initial deposit of 100,000/-, while those with existing accounts should maintain a balance of at least 200,000/-.

Here, the participants (children and parents) will have the opportunity to enjoy various sports and training activities, receive jerseys and both general and special prizes, have lunch together, and also participate in sports with famous players from the NBC Premier League.


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