By Chedaiwe Msuya and Eva Ngowi, Tanga
Tanzania’s Sixth Phase Government has intensified its push to strengthen household welfare and accelerate national economic growth by investing heavily in financial literacy, positioning it as a cornerstone of inclusive development.
As part of this strategy, the government is hosting the National Financial Services Week in Tanga Region, an initiative aimed at equipping citizens with the knowledge and discipline needed to use formal financial services effectively. The week-long event, organised by the Ministry of Finance, will take place at Usagara Grounds in Tanga City from 19 to 26 January 2026, and is expected to be officially opened by the Minister for Finance, Ambassador Khamis Mussa Omar.
The programme reflects the administration of President Samia Suluhu Hassan, which has placed financial inclusion, consumer protection and digital finance at the centre of its economic reform agenda.
Financial literacy as an economic tool
Speaking to journalists on behalf of the Permanent Secretary for Finance, the Acting Commissioner for Financial Sector Development, Dionisia Mjema, said the initiative is part of the implementation of Tanzania’s Financial Sector Development Master Plan (2020/21–2029/30).
The plan aims to build a resilient, inclusive and growth-oriented financial system capable of supporting private sector expansion and poverty reduction.
“The objective is to enable citizens to increase their incomes, reduce poverty and contribute meaningfully to national economic growth through inclusive use of formal financial services,” Mjema said.
Throughout the week, members of the public will have access to financial services exhibitions, seminars, financial literacy publications, and digital content disseminated through online platforms, social media and mainstream media.
Bridging the inclusion gap
Despite notable progress in mobile money and banking penetration, financial inclusion remains uneven. According to the FinScope 2023 Survey, only 53.5 percent of Tanzania’s workforce was using formal financial services, underscoring a significant gap between access and effective usage.
To address this, the Ministry of Finance is implementing the National Financial Literacy Programme (2021/22–2025/26) in collaboration with financial regulators, banks, mobile money operators, insurers and other stakeholders.
Mjema noted that the government has developed a standardised financial education toolkit covering key areas such as personal financial management, savings, responsible borrowing, investment, insurance, deposit insurance, taxation and government bonds. The long-term target is ambitious: by 2030, around 80 percent of Tanzanians are expected to have a solid understanding of financial matters.
Central bank focus on consumer protection
The Bank of Tanzania (BoT) is playing a central role in the initiative. Speaking separately, Noves Moses, Assistant Manager in the BoT Communications Department, said participants will receive education on investing in government securities, managing personal finances, and understanding how to lodge complaints against financial institutions.
She highlighted the central bank’s digital complaints-handling platform, “SEMA BoT,” which allows consumers to submit grievances online and have them resolved efficiently – a move that aligns with broader efforts to strengthen trust and accountability in the financial system.
A whole-of-society approach
The National Financial Services Week will bring together government ministries, departments and agencies from both Mainland Tanzania and Zanzibar, financial sector regulators, private sector players, NGOs, media houses, educational and research institutions, and faith-based organisations providing financial services.
Target groups include public servants, students, women, youth, people with disabilities, small and medium-sized entrepreneurs, journalists and financial service providers, ensuring the initiative reaches both consumers and market intermediaries.
Held under the theme “Financial Literacy: The Foundation of Economic Development,” the event seeks to encourage Tanzanians to save regularly, borrow productively, repay debts on time and embrace formal financial systems. Importantly, the government has stressed that all education and services offered during the week will be free of charge. As Tanzania pushes ahead with digital finance, capital market development and SME financing reforms, policymakers see financial literacy not as a soft intervention, but as a strategic investment – one that could determine how effectively economic growth translates into shared prosperity.
