IN an initiative designed to provide children with essential financial literacy in Tanzania, Stanbic Bank has launched Hatua Account Clubs.

Emmanuel Mahodanga, bank’s head of personal banking said during the account launch yesterday in Dar es Salaam that the idea is meant to overcome today’s increasingly complex financial landscape, the ability to manage money, understand investments, and make informed financial decisions is more critical than ever.

He said that the programme is part of bank’s commitment to empowering the next generation by offering them the tools to navigate and succeed in a world where financial literacy is foundational to success.

According to him, Hatua Account Clubs offer children a unique learning experience, combining fun activities like golf, tennis, football, movies, and arts with lessons in financial responsibility. The initiative seeks to instil positive financial habits at an early age, helping children understand important concepts like saving, budgeting, and investment.

“These skills have both immediate and long-term benefits, preparing children not only to manage their day-to-day finances but also to build wealth, manage investment portfolios, and make sound financial decisions as adults,” he said.

He highlighted the importance of early financial education, stating: “We are preparing children to live in a world where understanding finances, managing investments, and building wealth are essential life skills. By introducing these concepts early, we set them on a path toward financial independence and success.”

The expected outcomes of the Hatua Account Clubs programme go beyond simply teaching children about money. In the short term, the initiative helps children form healthy financial habits, such as saving regularly and thinking carefully about their spending. In the long term, these early lessons are expected to evolve into a deeper understanding of complex financial tools, such as managing investment portfolios and navigating global financial markets, ensuring that future generations are financially literate and capable of making informed decisions.

The account underscores the bank’s broader commitment to fostering financial inclusion and education across all age groups. The program is open to all children, and parents are encouraged to participate in nurturing these essential life skills in their children.