Over 3,000 Students Set to Benefit From Financial Literacy Programme

MORE than 3,000 students from three local universities are set to benefit from capacity building on financial literacy, leadership and basic skills so that they could prosper upon graduation.

Green Hope Director Martin Lusenga said his institution had teamed up with Vodacom Foundation to ensure the students acquired requisite knowledge and skills on financial management while at college and after they graduated.

For a start, he said, the Foundation would conduct their training sessions at the University of Dodoma, St Augustine University of Tanzania (SAUT-Mwanza) and the University of Dar es Salaam in pilot studies before opening up to other areas.

“We know that there is a problem of financial management among students in higher-learning institutions … so we need to equip them with the knowledge that will equip them with leadership and basic life skills so they can make informed decisions,” he said.

Mr Lusenga said the Foundation had conducted studies which show increasing number of dropouts due to students involvement in drugs, excessive alcohol consumption, sexual abuse which leads to get HIV infections, all because of lack of self discipline and financial discipline at higher learning institutions.

“Upon graduating, others fail to fit in public simply because the cash flow they have been enjoying at college isn’t there any more, but some have a number of saving opportunities such as M-PESA and M-PAWA , and can thus plan better for their future” he said.

On his part, Dodoma regional Vodacom Manager, Mr Balikulije Mchome said they team with Green Hope so that the student can start saving through M-PESA and M-PAWA so that upon graduating they can start their own small scale or medium projects. “They can only do so with proper spending and live up to their budgets while in colleges and at the same time do saving through mobile banking” said Mchome.

UDOM Students President, Mr Francisco Nzalila said the training has come at an ideal time as the financial literacy is of paramount importance especially on the management of funds from their parents as well as from the Higher Education Students’ Loan Board.

– Daily News