DAR ES SALAAM: GREATER youth investment in Tanzania’s capital markets is key to mobilising domestic savings, expanding business financing and supporting longterm economic growth, the Dar es Salaam Stock Exchange (DSE) has said.
Speaking during the Ring the Bell for Financial Literacy initiative on Friday, DSE Business Development Manager Emmanuel Nyalali said young people were becoming increasingly important to the sustainability and growth of the country’s financial markets through their participation in share trading and other securities.
He said improving financial literacy among young people was essential to expanding the investor base, deepening market participation and strengthening the role of domestic investment in business financing.
“Growing youth participation in share trading presents an opportunity to broaden the investor base, strengthen investment culture and build financial knowledge that supports Tanzania’s long-term economic growth,” Nyalali said.
According to him, young people aged between 20 and 39 account for approximately 40 per cent of participants in trading activities at the exchange, demonstrating their increasing interest in investment opportunities.
“This shows that the future of this market is sustainable because young people are increasingly interested in participating in the market.
“The growing participation is partly due to the introduction of the ‘Hisa Kiganjani’ platform, which has made it easier for investors to access the stock market digitally,” said Mr Nyalali.
In addition, the bourse currently builds on this momentum by introducing more young people to investment opportunities and encouraging them to develop sound financial management habits early in life.
“We depend on young people in our economy and capital markets. As they complete their education, they will enter employment, establish businesses and eventually become major investors in the capital markets,” he added.
The ‘ring the bell’ initiative seeks to promote public awareness of capital markets and the importance of investment education as it is observed internationally as exchanges and market regulators encourage wider understanding of investment opportunities.
He said, engaging young people is particularly important because they represent a growing group of current market participants and potential longterm investors.
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Mr William Idi, a form three student at Mikocheni Secondary School said the financial literacy education would help students develop a saving culture, become selfreliant and prepare for future investment opportunities.