Experts from the Bank of Tanzania, Mtwara Branch, have provided financial education to staff of the CashewNUT Board of Tanzania, covering key topics such as security features on Tanzanian banknotes issued by the Bank of Tanzania, proper handling of banknotes, and the modern methods of payment using bank cards, funds transfers, and agent banking services. The session also included guidance on financial discipline, prudent spending, and risk-free investment options.
The team elaborated on investment in Government Treasury Securities, emphasizing that to participate in such investments, one must open a Central Depository System (CDS) account issued by the Bank of Tanzania. To open a CDS account, individuals are required to visit any commercial bank in the country—preferably one where they already have a personal account—and present their National ID (NIDA), passport-size photos, and TIN number.
Additionally, the experts highlighted opportunities provided by UTT Asset Management and Investor Services (UTT-AMIS), a government-established collective investment scheme under the Ministry of Finance. UTT-AMIS offers various investment funds that are accessible to both small-scale and large-scale investors. The training was conducted on June 5, 2025, for all staff of the Cashewnut Board of Tanzania, at the Board’s headquarters conference hall in Mtwara Region. It was delivered by Mr. Melchiades Domino Rutayebesibwa, Manager of Banking Services at the Bank of Tanzania – Mtwara Branch, alongside Mr. Benny Mgowole and Ms. Neema Nyanda, who are also officers from the same branch.
