Tanzania to make 80 pct of people financially literate by 2025

DAR ES SALAAM, Nov. 17 (Xinhua) -- A senior Tanzanian government official said on Tuesday the government intended to make 80 percent of the population aware of financial matters by 2025 through the implementation of the financial education program.

Charles Mwamaja, the commissioner for Finance Development in the Ministry of Finance and Planning, said more than 40 percent of citizens lack financial literacy despite the crucial role financial operations play in national development.

Mwamaja told a news conference in the capital Dodoma ahead of the 2nd National Financial Services Week to be held in Mwanza city that financial literacy helped one to have personal financial management like household budgets, credit cards, insurance, government budgeting, borrowing, lending, mortgages, investing, taxation and credit facilities.

Mwamaja said financial literacy is crucial to the all-inclusive and meaningful socio-economic development of a given country on a sustainable basis.