The University of Dar es Salaam (UDSM) and the Bank of Tanzania Academy signed a memorandum of understanding in Mwanza on 29 October to expand financial education in the country, promote joint research and develop programmes aligned with labour-market needs.
The central bank governor stressed that financial literacy supports better decisions on spending, saving and investing. The university will contribute its academics, including professors in the field.
According to central bank data, adult access to formal financial services rose from 86% in 2017 to 89% in 2023, while usage climbed from 65% to 76%. Guidelines for integrating financial education into higher and vocational curricula were also launched in October.
