Tanzania calls for effective use of financial literacy skills in improving the citizens, nation’s well-being
NJOMBE: THE Ministry of Finance has urged members of the public to make effective use of the financial literacy skills they have acquired to benefit from various savings and investment opportunities available in the country, in efforts to improve the financial well-being of individuals, families and the nation at large.
The call follows the completion of a financial literacy programme for leaders, public servants, members of the public and entrepreneurs in Njombe Region, which aimed to enhance their understanding of income and expenditure management, savings, investment and the proper use of formal financial services.
The programme was implemented in collaboration with experts from the Ministry of Finance, the National Social Security Fund (NSSF), UTT Asset Management and Investor Services (UTT AMIS), and the Capital Markets and Securities Authority (CMSA), with the aim of equipping participants with the skills to make informed financial decisions and take advantage of available investment opportunities.
Speaking during the training, Senior Finance Management Officer from the Financial Sector Development Department at the Ministry of Finance, Salim Khalfan Kimaro, said financial literacy was an important tool that enables people to plan their income and expenditure, save money, avoid unnecessary spending and make productive investments.
He said members of the public should understand the various financial opportunities provided by the government, including loans set aside for special groups such as women, youth and people with disabilities through local government authorities.
“Members of the public should understand the various financial opportunities provided by the government and use them for their intended purposes.
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“For example, loans provided to women, youth and people with disabilities through local government authorities should serve as a catalyst for strengthening economic activities and increasing beneficiaries’ incomes,” Kimaro said.
He added that public response to the programme in the areas covered had been positive, with participants gaining financial management knowledge expected to help them make better financial decisions in their daily lives.
