Students advised to develop personal financial discipline

Sokoine University of Agriculture students have been advised to open accounts in various financial institutions in order to build discipline on the proper use of the money they receive from the Higher Education Students' Loans Board (HESLB) and those from parents and other legal sources.


Vice Chancellor of Sokoine University of Agriculture (SUA) Prof. Raphael Chibunda poses with CRDB officials and staff, some Student Government Officials (SUASO) and winners of a CRDB-organized competition

The advice was given by the Vice-Chancellor, Prof. Raphael Chibunda on 1st February 2021 during a short prize-giving ceremony for three Sokoine University of Agriculture students who won prizes (two LAPTOPs and one smartphone) provided by CRDB Bank SUA branch for performing many transactions through their CRDB owned SCHOLAR ACCOUNT.

Prof. Chibunda speaking

"I congratulate all of you for being able to win, you are young but stay aware that youth is passing and responsibilities are increasing, therefore it is good to establish a culture of using financial institutions to take care of your money, those of you who have decided to go to CRDB to open these accounts, I congratulate you very much and it is my hope that it will build discipline for you to wisely use your money," said Prof. Chibunda.

Prof. Chibunda reminded them that, the money they receive from HESLB, is the loan and the loan should always be used with caution and for the intended purposes so he urged them to be careful in spending and remember to return it after graduation to help other Tanzanians who need it.

He also used the occasion to remind all students to continue taking all necessary precautions at this time when the government and health professionals are urging citizens to take all precautions against the transmission of COVID 19.

"We have put in place washing water and sanitizer in every corner of the university so that students can get handwashing services easily and we ask you not to neglect, wash your hands and do not be ashamed to wear a mask, wear it if you have as part to protect yourself and your colleagues as well" stressed Prof. Chibunda.

For her part, CRDB Bank SUA Branch Manager, Isabela Kitila said CRDB has managed to design and come up with SCHOLAR ACCOUNT which is basically a savings account designed for students to enable them to save their subsistence allowance and pocket money while at university or college.
Commenting on the benefits of the SCHOLAR account, Isabela said that this account has no monthly deductions when a student makes transactions and it can also help the student to get an initial loan through CRDB Bank so that he can solve the challenges they face and be able to repay when he gets a loan from HESLB.

Ms. Isabela

“This account can also be used by a student anywhere even if he or she is already employed, and you will also be able to access a range of services through our CRDB banks such as Sim banking, internet banking, and online shopping.” Explained Ms. Isabela

Ms. Isabela concluded by telling students that it is good for them to save a little bit of money while they are still students so that when they graduate, they have some amount of money that will help them to start life outside of college

Speaking on behalf of the students who won the prizes, Megan Manase Mushi said getting a laptop will help them in various academic activities because they did not have it at all so CRDB has been a savior in providing them with the tools.

They also advised other students to join CRDB Bank as it has many good services for students that will help them in saving money and other services.


Story and photo Credits: Calvin Edward Gwabara - SUAMEDIA

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