Africa-Press – Tanzania. DAR ES SALAAM: THE Deputy Minister for Education, Science and Technology, Omary Kipanga has directed higher learning institutions to work with the Bank of Tanzania in evaluating the implementation of plans to include financial literacy in the higher learning curriculum.
Speaking at a three-day seminar on integrating financial literacy in Tanzania’s higher learning curriculum in Dar es Salaam on Wednesday, the Deputy Minister said an evaluation report of the plan should be sent to the Ministry of Education Science and Technology for further action.
“Institutions of higher learning should work with Bank of Tanzania to conduct an evaluation of the plan and the report be sent to the ministry,” he said when he opened the seminar that involved representatives of higher learning institutions, the Ministry of Education and Bank of Tanzania officials.
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The Ministry of Education in collaboration with the Central Bank of Tanzania (BoT) plans to provide financial education from the primary education level to universities to enhance personal financial literacy at young age. It is expected that the plan would use guidelines to enhance financial literacy developed by the National Council for Financial Inclusion to boost financial literacy in Tanzania mainland and Zanzibar.
The Deputy Minister congratulated the University of Dar es Salaam, Mkwawa University, and Iringa University for making progress in incorporating financial education into their curricula and called on other institutions to follow suit.
The Bank of Tanzania Deputy Governor, Financial Stability and (Financial) Deepening (FSD), Sauda Kassim Msemo, said the seminar was convened to exchange experience on the best way of incorporating financial literacy in the higher education curriculum to enhance personal financial knowledge and skills to the young generation.
She said incorporating financial education in the curriculum would help to impart a sense of financial cognisance and responsibility and the same applies to saving habits among students and the young generation as well.
The deputy governor said the seminar aligns with the government’s plan for financial education to be taught at all levels of education.
In April last year, BoT involved the heads of Higher Education institutions in the country, with the representation of the heads of universities as well as the Tanzania Commission for Universities (TCU) and National Council for Technical and Vocational Education and Training (NACTVET) to work on plans to include financial literacy in their curricular.
“Until now, three institutions of higher education have taken steps to include the subject of financial education in their curricula, so this workshop is to stimulate the presence of financial education in many colleges in the country in line with the changes in economic reform in the country,” she said.
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