Msigwa Praises CRDB Bank's 'Zogo Mchongo' Initiative for Financial Education

While launching the second season of the special television program for public financial education, "Zogo Mchongo," organized by CRDB Bank, the Permanent Secretary of the Ministry of Culture, Arts, and Sports, Gerson Msigwa, praised these efforts aimed at economically empowering citizens and helping them escape poverty. Msigwa said the financial education provided through the "Zogo Mchongo" program on Clouds TV will enlighten many Tanzanians about the opportunities available within financial institutions, led by CRDB Bank. The knowledge they gain will also help them achieve economic independence and enable the nation to reach its goals of inclusive economic growth. "This financial education program will also help tackle two out of three enemies mentioned by Mwalimu Nyerere, which are ignorance and poverty, making it easier for the community to combat diseases," said Msigwa. "I commend CRDB Bank for your efforts in educating Tanzanians. If everyone participates in this, it will be easier to achieve the government's goals, led by President Dr. Samia Suluhu Hassan, of improving the lives of Tanzanians," said Msigwa. Furthermore, Msigwa stated that a lot of money in the country circulates in the informal sector because many citizens are unaware of the benefits of using banking services. As a result, many entrepreneurs miss out on opportunities to benefit from loans and other banking services. "I believe this 'Zogo Mchongo' program will open their eyes and enable them to seize opportunities that will help grow their businesses and the nation's economy," Msigwa added. On his part, the CEO of CRDB Bank, Abdulmajid Nsekela, said that the "Zogo Mchongo" program is part of the Financial Education Plan (2021/22 – 2025/26), which aims to increase awareness and usage of financial services among the public. Additionally, Nsekela noted that "Zogo Mchongo" has become an important platform for educating citizens about the importance of having bank accounts, investing, and using financial services safely and efficiently. This is a crucial step in achieving financial inclusion and strengthening the national economy. "As a leading patriotic bank, we have a responsibility to ensure citizens receive financial education because by doing so, we not only promote financial inclusion but also economic inclusion, as this education will help people seize economic opportunities through the knowledge they have of financial services offered by their CRDB Bank," said Nsekela. Nsekela added that through various community education and empowerment programs, CRDB Bank continues to commit to bringing positive change in society by ensuring financial services reach more people, especially those in rural and underserved areas. Joseline Kamuhanda, Head of Marketing at CRDB Bank, stated that the first season of "Zogo Mchongo" was very successful, and due to these successes, significant improvements have been made to simplify understanding for the viewers of this program aired on Clouds TV. "This new season, we have added many topics that educate and entertain. We want our viewers to gain in-depth knowledge about financial matters and build a better understanding of how to manage and invest their money. These improvements are part of our commitment to continue serving our customers and the community at large," said Joseline. The "Zogo Mchongo" program aims to increase awareness of important topics such as budgeting, saving, and investment methods. New topics added in this season include the IMBEJU program, which has become a refuge for young and women entrepreneurs nationwide, products like Hodari for entrepreneurs, Sharia-compliant services ‘Al Barakah,’ services for Tanzanians living abroad ‘Diaspora,’ and business empowerment.