The second annual Road to Financial Freedom Forum was recently held at the Dar es Salaam Stock Exchange (DSE) in Tanzania, bringing together about 100 women from various stages of their careers. The forum aimed to equip women with practical steps towards investment and financial independence. Organised by Accelerate Women and powered by Absa Bank Tanzania, the event featured a range of speakers and experts in finance. The initiative seeks to bridge the gap between financial education and participation.
The forum provided a platform for women to learn about various investment options, including unit trusts, collective investment funds, and government securities. Participants were also introduced to longer-term financial planning, including retirement products, estate planning, and real estate investments such as Real Estate Investment Trusts (REITs). Financial educator Victor Mutta, popularly known as The Money Guy, discussed financial discipline and investment, including stock-market trading. Entrepreneurship was also examined as a way of creating multiple income streams.
Some participants downloaded investment applications and began the process of investing during the forum. The DSE trained participants on capital-market participation and its Hisa Kiganjani platform. TIB Rasilimali explained the role of licensed stockbrokers, how to assess listed companies, and how to use market information when making investment decisions. Participants were guided on opening Central Depository System (CDS) accounts through licensed brokers and purchasing shares.
Accelerate Women founder and CEO Bernice Fernandes said the initiative was intended to ensure financial education leads to participation. She encouraged women to take practical steps towards investment, providing them with the knowledge and skills needed to begin their investment journey. Fernandes also shared the Cut, Save and Invest (CSI) approach she learnt from her father, encouraging women to prioritise saving and investment.
Absa Bank Tanzania Products and Channels Manager Devroda Kagusa said financial literacy was essential in helping women make informed decisions about their money and use financial services effectively. She emphasised the importance of the forum in providing women with an opportunity to learn and get informed about using financial services that can enhance their financial inclusion.
Accelerate Women board member Monica Hangi said women controlled significant amounts of money but often lacked adequate knowledge of available investment opportunities. She encouraged women to strengthen their financial knowledge and turn their income and savings into sustainable investments. Hangi emphasised the need for women to take charge of their financial lives and make informed decisions about their money.
The Road to Financial Freedom Forum is an annual event that seeks to empower women with practical investing skills and knowledge. The event provided a platform for women to network with investors, financial institutions, market professionals, and financial educators. Key takeaways from the forum include the importance of financial literacy, the need for women to take charge of their financial lives, and the various investment options available to them.
Key points
- The forum provided practical steps towards investment and financial independence for women in Tanzania.
- The event featured a range of speakers and experts in finance, including financial educator Victor Mutta.
- The initiative seeks to bridge the gap between financial education and participation for women in Tanzania.
