NMB BANK TAKES MASS FINANCIAL LITERACY DRIVE TO THOUSANDS OF YOUTH

Head of the Evangelical Lutheran Church in Tanzania, Bishop Dr Alex Malasusa (left), speaks with NMB Bank Plc Chief of Retail Banking, Filbert Mponzi (second right) and NMB Head of Branch Network and Sales, Donatus Richard (second left) shortly after officially launching the Twen’Zetu kwa Yesu Concert at the Tanganyika Packers grounds in Kawe, Dar es Salaam. Right is Upendo Media Managing Director Neng’ida Johanes. NMB was the concert’s main sponsor.

DAR ES SALAAM. NMB Bank has called for mass financial literacy to accompany the expansion of formal financial services, saying young people need practical knowledge of saving, budgeting, digital safety and responsible borrowing to benefit fully from financial inclusion.

The message was delivered during the Twen’Zetu kwa Yesu 2026 concert held on Saturday at the Tanganyika Packers grounds in Kawe, Dar es Salaam, bringing together thousands of young people from Tanzania and beyond.

The concert was organised by the Coastal Diocese of the Evangelical Lutheran Church in Tanzania through Upendo Media, with a focus on faith, talent, family and economic development. Organisers said the event attracted more than 50,000 young people.

NMB Chief of Retail Banking, Filbert Mponzi said providing young people with accounts, loans and digital platforms was not enough unless they were also equipped with the knowledge required to use those services safely and productively.

“Our message to young people is to use technology for their development while building a positive culture of learning how to manage their money from an early stage,” Mr Mponzi said.

He said NMB used the event to provide education on saving, credit, insurance and the safe use of digital financial services. NMB used its "Bank on Wheels", and its banking Wakala agents to provide services including account opening and transactions.

Mr Mponzi said taking financial knowledge and banking services to major community gatherings could help remove barriers associated with distance, limited access to information and unfamiliarity with formal financial services.

He encouraged young people to use technology and their talents to build income-generating activities while developing a culture of saving and understanding the responsibilities associated with borrowing.

Jennifer Minja, an attendee from ELCT Kimara, said the sessions had improved her understanding of account ownership, saving and the need to understand credit products before using them.

“We thank NMB for using this platform to educate a large number of young people on the importance of opening accounts, saving and understanding how to borrow responsibly,” she said.

Presiding Bishop of the Evangelical Lutheran Church in Tanzania, Bishop Dr Alex Gehaz Malasusa said youth development should be grounded in knowledge, values and personal responsibility, urging young people to recognise their role in protecting peace and carrying society’s hopes.

“Young people must be vessels of honour and carry the hopes of many. Even when others try to draw them into inappropriate conduct, they should say, ‘I am a vessel of honour,” Bishop Malasusa said.

He also thanked NMB and other sponsors for supporting the concert and called on them to back the church’s plan to develop a centre that would expand opportunities for young people to learn and participate in faith-based activities.

The concert demonstrated how religious and community platforms can be used to deliver financial education and formal banking services to large audiences, supporting account ownership, safer use of digital channels and wider youth participation in the formal economy.