ARE YOUR MONEY AND FINANCES WORKING FOR YOU, OR ARE YOU WORKING FOR MONEY?

Understanding the Secrets of Effective Financial Management, Savings and Business Growth

In everyday life, many people work hard to earn money, increase their income and improve their financial well-being. However, despite these efforts, some individuals still struggle to achieve their financial goals. Some spend years working without building sufficient savings, while many entrepreneurs face challenges in separating business finances from personal expenses.

This situation raises an important question: Are we simply working to earn money, or are we learning how to make our money work for us and help us achieve our financial goals?

The truth is that financial success does not depend solely on how much money a person earns, but also on how effectively that money is planned, managed, spent, saved and invested.

In this article, we explore essential principles of financial management and how banking services can become an important part of the financial growth journey for individuals and businesses.

This article draws on the professional perspective of Ms. Lilianfavour Makawa, Team Leader – Sales and Service/Support, CRDB Bank Plc, Ubungo Branch, Dar es Salaam.

1. A High Income Does Not Guarantee Financial Success

One important misconception that people need to reconsider is the belief that earning a high income automatically translates into financial success.

An individual may earn a substantial salary but still have no savings at the end of the month. Similarly, a business owner may record impressive sales figures but struggle to determine whether the business is making a profit or gradually consuming its working capital.

In many cases, the underlying challenge is financial management.

Everyone needs a financial plan that clearly outlines income and expenditure, helping them understand where their money goes. It is equally important to distinguish between essential needs, regular expenses and unnecessary spending.

Setting financial goals, monitoring expenditure and maintaining financial discipline are important steps towards building a strong personal financial foundation.

2. Saving Money Is Not Only for People with High Incomes

There is a common misconception that saving money is only possible for people earning high salaries or business owners making substantial profits.

However, saving begins with discipline and consistency, not necessarily with a large amount of money.

An individual can start by setting aside a portion of their income whenever they receive a salary or generate business revenue. The most important thing is to establish a realistic savings routine and maintain it consistently over time.

Savings can help individuals in several ways, including:

• Managing unexpected financial emergencies.

• Achieving short-term and long-term financial goals.

• Reducing dependence on loans for ordinary personal expenses.

• Starting or expanding a business.

• Preparing for important future financial obligations.

Through various banking services, customers can explore suitable ways of saving and managing their money according to their individual needs and financial objectives.

3. Loans: An Opportunity for Growth or a Financial Burden?

Loans are among the financial services that can help individuals and businesses implement their financial plans.

For entrepreneurs, borrowing can provide an opportunity to increase stock, purchase equipment, expand business premises or improve production capacity.

For individuals, loans may also help meet specific financial needs, depending on the terms and conditions of the relevant loan product.

However, before taking out a loan, there are several important considerations.

First, have a clear reason for borrowing. Do not rush into taking a loan simply because it is available. Understand what you intend to do with the money and how it will contribute to improving your financial situation.

Second, understand the cost of borrowing. Make sure you understand the interest rate, applicable fees, repayment period and other conditions before signing a loan agreement.

Third, assess your repayment capacity. Ensure that the repayment obligations are manageable in relation to your income and other financial commitments.

Fourth, use the loan for its intended purpose. If you borrow money to support your business, ensure that the funds are directed towards the activities outlined in your business plan.

A properly planned loan can become a tool for financial development. However, borrowing without considering repayment capacity can create serious financial challenges.

4. A Bank Is More Than Just a Place to Keep Your Money!

When many people think about banks, the first things that come to mind are depositing and withdrawing money. However, banking services play a much broader role in the economic lives of individuals and businesses.

Banks provide various services that can support:

• Safeguarding money and managing bank accounts.

• Facilitating payments and financial transactions.

• Accessing credit facilities, subject to applicable eligibility requirements.

• Helping businesses manage income and payments.

• Accessing digital banking services.

• Supporting customers in managing their financial needs.

It is therefore important for every customer to understand the banking services available and select those that best match their financial needs.

A good relationship between a customer and a bank should not end after opening an account. Customers should continue learning, asking questions and exploring financial services that can support their financial journey.

5. Digital Banking: Is Technology Making Our Financial Lives Easier?

Technological advancements have significantly transformed the way people conduct financial transactions and manage their money.

Through digital banking services, customers can conveniently perform various transactions without necessarily having to visit a physical bank branch every time they need a banking service.

These services are particularly valuable to business owners who need to make payments, receive money and manage their business operations efficiently.

However, despite the convenience offered by digital banking, the security of personal information and financial assets must never be overlooked.

Every digital banking user should:

• Keep their PINs and passwords confidential.

• Never share sensitive account information with other people.

• Avoid clicking on suspicious or unfamiliar links received through messages.

• Verify transactions and payment information.

• Use official bank communication channels whenever assistance is required.

Technology should be a tool for making life easier, not a source of financial loss resulting from negligence or fraudulent activities.

6. Business Owners: Separate Business Money from Personal Finances

One of the challenges facing many small and medium-sized business owners is the tendency to mix business finances with personal expenses.

An entrepreneur may generate impressive sales but still struggle to determine the actual profit because business income is spent without a clear financial management system.

To improve business financial management, entrepreneurs should:

• Separate business finances from personal spending.

• Maintain accurate records of income and expenditure.

• Monitor customer debts and business liabilities.

• Understand operational costs.

• Set aside funds for business expansion.

• Use appropriate banking services to simplify the collection and management of business funds.

A business owner who understands the cash flow of their business is better positioned to make informed and productive decisions.

High sales do not necessarily mean high profits. What matters is understanding the money coming into the business, the money going out and the amount remaining after all expenses have been accounted for.

7. How Can You Start Building a Strong Financial Future?

Financial success is a journey that requires planning, patience and discipline. Although there is no single financial formula that works for everyone, several practical steps can help individuals get started.

Step One: Set Financial Goals. Decide what you want to achieve financially within the next six months, one year or five years.

Step Two: Develop a Budget. Understand your income and plan your expenditure before spending your money.

Step Three: Build a Savings Culture. Start saving an amount you can comfortably afford and increase it as your income allows.

Step Four: Learn About Financial Services. Do not use banking services merely out of habit. Understand their costs, benefits, terms and conditions, and how they can support your financial objectives.

Step Five: Make Informed Borrowing and Investment Decisions. Research available opportunities, assess potential risks and avoid making financial decisions based solely on promises of quick returns.

Step Six: Keep Learning. Financial knowledge helps you make better decisions as your financial needs and circumstances change.

CONCLUSION: IT IS TIME TO CHANGE THE WAY WE THINK ABOUT MONEY

Building a strong financial future does not necessarily mean having a lot of money today. It requires learning how to make effective use of the resources available to you, setting realistic financial goals and taking consistent steps towards long-term financial stability.

Banks and financial services can play an important role in this journey. However, achieving financial success also requires personal discipline, financial knowledge and informed decision-making.

Ultimately, the question is not simply how much money you earn, but what you do with the money you receive.

Are your finances working for you, or are you still working for money without a clear plan to grow it?

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WE WANT TO HEAR FROM YOU!

We would love to hear your thoughts and experiences.

1. What is the biggest challenge you face when it comes to saving money?

2. What do you consider the most important factor before taking a bank loan?

3. If you had an opportunity to ask a banking professional one question, what would you want to know?

Share your thoughts or questions in the comments section. Financial literacy begins with asking questions, learning and taking action.

ABOUT THE CONTRIBUTOR

Ms. Lilianfavour Makawa is the Team Leader – Sales and Service/Support at CRDB Bank Plc, Ubungo Branch, Dar es Salaam.

Through her professional role in sales and customer service, she brings a valuable perspective on the importance of banking services in supporting individuals and business activities.

This article is intended for financial education and general awareness of banking services. For specific information about banking products, services, charges and terms and conditions, please contact the relevant bank directly.

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NMB SECURES US$30 MILLION FROM CHINA DEVELOPMENT BANK TO BOOST SME FINANCING IN TANZANIA

NMB Bank Plc Managing Director and Chief Executive Officer, Ruth Zaipuna (right), shakes hands with China Development Bank (CDB) President, Huang Zhiqiang, during the signing ceremony of a US$30 million loan facility aimed at expanding financing for micro, small and medium-sized enterprises (MSMEs) in Tanzania. The ceremony was held at NMB Bank’s headquarters in Dar es Salaam.

DAR ES SALAAM; November 5, 2026 - NMB Bank Plc has secured a US$30 million loan facility from China Development Bank (CDB) to expand access to financing for small and medium-sized enterprises (SMEs) in Tanzania, providing additional capital to support business expansion, investment and trade.

The financing agreement was signed at NMB Bank’s headquarters in Dar es Salaam, strengthening cooperation between the two financial institutions and enhancing the bank’s capacity to support Tanzanian enterprises, including businesses engaged in trade with China.

Speaking during the signing ceremony, NMB Bank Managing Director and Chief Executive Officer, Ruth Zaipuna, said limited access to adequate financing remains one of the major challenges facing entrepreneurs seeking to expand their businesses and compete in wider markets.

“Small businesses are central to Tanzania’s economy, yet access to adequate financing remains a challenge for many entrepreneurs. This US$30 million facility will strengthen our ability to respond to their financing needs, support business expansion and facilitate trade. Our focus is to ensure that more Tanzanian businesses have access to the capital they need to grow,” Zaipuna said.

Strengthening Tanzania-China Trade Relations

Zaipuna said the partnership would further strengthen NMB’s relationships with Chinese financial institutions and business partners, creating additional opportunities for Tanzanian importers and exporters to access financing and cross-border payment services.

Through its partnership with China’s Cross-border Interbank Payment System (CIPS), NMB provides renminbi (RMB) payment services, RMB-denominated business accounts and trade finance solutions designed to facilitate transactions between Tanzania and China.

The bank also facilitates Canton Fair business tours, connecting Tanzanian entrepreneurs with Chinese manufacturers and suppliers to explore commercial opportunities and establish new business relationships.

These initiatives form part of NMB’s broader efforts to support businesses involved in international trade by providing financial solutions that simplify cross-border transactions and strengthen commercial partnerships.

Recognition for SME Banking Excellence

The agreement comes following NMB’s recognition by Global Finance as Tanzania’s Best SME Bank for 2026, reflecting the bank’s continued commitment to supporting the growth and development of small and medium-sized enterprises.

The US$30 million facility is expected to enhance NMB’s capacity to provide financing to SMEs, enabling more businesses to invest, expand operations, improve competitiveness and explore new markets.

The partnership also underscores the growing financial and economic cooperation between Tanzania and China, particularly in supporting private-sector development and facilitating international trade.

Ultimately, the financing is expected to contribute to financial inclusion, private-sector investment and Tanzania’s long-term economic development priorities under National Development Vision 2050.

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AIRTEL TANZANIA EXPANDS NETWORK COVERAGE, PROMOTES ENVIRONMENTAL RESPONSIBILITY IN GONGO LA MBOTO

Dar es Salaam, October 29, 2026 – Airtel Tanzania has combined investment in telecommunications infrastructure with environmental responsibility through a community clean-up exercise held around its newly launched communication tower in Gongo la Mboto Markaz, Dar es Salaam.

The initiative brought together Airtel Tanzania employees, local government leaders and community members, who joined hands to collect litter and clear waste from the surroundings of the newly established communication site, contributing to efforts to create a cleaner and healthier environment.

The new communication tower is expected to benefit more than 10,460 residents in Gongo la Mboto and Ukonga by improving network coverage and providing more reliable communication services to households, businesses and other users.

The investment underscores Airtel Tanzania’s continued commitment to expanding its network infrastructure and improving access to digital services, enabling residents, young people and entrepreneurs to participate more effectively in the growing digital economy.

Speaking during the launch, Bernard John, a resident and Markaz Street local government representative, commended Airtel Tanzania for constructing and launching the tower, saying improved connectivity would create new opportunities for young people and entrepreneurs in the surrounding communities.

He noted that better access to communication services would support business activities, improve access to information and enable residents to explore employment and entrepreneurship opportunities through digital platforms.

Reliable mobile connectivity is increasingly important for small businesses, allowing entrepreneurs to reach customers, market their products and services, communicate with suppliers and manage daily operations more efficiently. Improved network access also enables residents to benefit from digital communication platforms and a wider range of online services.

Beyond the investment in network infrastructure, the environmental clean-up exercise demonstrated the importance of responsible corporate engagement and collaboration with local communities.

By bringing together employees, local leaders and residents to improve the surroundings of the communication site, Airtel Tanzania reinforced the role of collective action in maintaining clean neighbourhoods and protecting the environment.

As Dar es Salaam continues to grow, demand for reliable telecommunications services is also increasing. Investments such as the new Gongo la Mboto Markaz tower are therefore important in supporting communication needs, facilitating business growth and expanding access to digital opportunities.

Through its continued network expansion initiatives, Airtel Tanzania aims to bring reliable connectivity closer to more people and businesses across the country, advancing its commitment to connecting communities through Kila Kona.

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CHILDREN IN CROSSFIRE Na TET ZASAINI MoU KUIMARISHA ELIMU YA AWALI NA STADI ZA MSINGI

TAASISI ya Elimu Tanzania (TET) na Shirika lisilo la Kiserikali la Children in Crossfire zimesaini hati ya makubaliano (MoU) kwa lengo la kuimarisha elimu ya awali na elimu ya msingi, hususan katika madarasa ya kwanza na ya pili, kwa kuboresha stadi za kusoma, kuandika na kuhesabu kwa watoto.

Makubaliano hayo yanalenga kuimarisha uandaaji wa vifaa vya kufundishia na kujifunzia, kutoa mafunzo kwa walimu na kuimarisha ufuatiliaji wa utekelezaji wa programu za elimu katika shule, ili kuboresha mazingira ya ufundishaji na ujifunzaji na kuongeza uwezo wa watoto kumudu stadi za msingi.

Hafla ya utiaji saini wa makubaliano hayo imefanyika Oktoba 28, 2026, katika ofisi za TET Jijini Dar es Salaam, ikiwa ni hatua ya kurasimisha ushirikiano ambao umekuwa ukiendelea kwa miaka kadhaa kati ya taasisi hizo katika kuboresha elimu ya watoto.

Akizungumza katika hafla hiyo, Mkurugenzi Mkuu wa TET, Dkt. Aneth Komba, amesema makubaliano hayo yamekuja wakati mwafaka, wakati Serikali ya Awamu ya Sita kupitia Wizara ya Elimu, Sayansi na Teknolojia na taasisi hiyo ikiendelea kutekeleza mpango mkakati wa kuimarisha stadi za kusoma, kuandika na kuhesabu.

Amesema kupitia makubaliano hayo, taasisi hizo zitashirikiana kuimarisha uandaaji wa vifaa vya kufundishia na kujifunzia, miongozo ya walimu pamoja na mafunzo yatakayowawezesha walimu kutekeleza mtaala kwa ufanisi zaidi.

“Tunatarajia kupitia makubaliano haya tutaimarisha uandaaji wa vifaa vya kufundishia na kujifunzia, pamoja na miongozo ya walimu. Pia, tutaimarisha utoaji wa mafunzo ili kuwawezesha walimu wetu kutekeleza mtaala kwa umakini zaidi,” amesema Dkt. Komba.

Amesema ushirikiano huo pia utasaidia kuwajengea walimu uwezo wa kuandaa madarasa yanayochochea ushiriki wa watoto katika mchakato wa kujifunza, badala ya kutegemea zaidi mbinu za kawaida za ufundishaji.

Dkt. Komba, amesema kuwa Children in Crossfire ina uzoefu katika kuandaa vifaa vya kufundishia na kujifunzia vinavyosaidia kujenga mazingira ya darasa shirikishi, yanayomwezesha mtoto kushiriki kikamilifu na kufurahia kujifunza.

“Tunatarajia kushirikiana nao kujenga ujuzi huo na kuusambaza kwa walimu wetu ili waweze kuandaa madarasa yanayomfanya mtoto afurahie kujifunza, apende kukaa darasani, na zaidi ya yote, aweze kumudu stadi za kusoma, kuandika na kuhesabu,” amesema.

Kwa upande wake, Mkurugenzi Mkazi wa Children in Crossfire Tanzania, Craig Ferla, amesema kusainiwa kwa makubaliano hayo ni hatua muhimu katika kuimarisha ushirikiano uliokuwepo kwa miaka kadhaa kati ya shirika hilo na TET katika kutekeleza shughuli za kuboresha elimu.

Amesema shirika hilo limekuwa likishirikiana na TET katika uandaaji wa vifaa vya kufundishia na kujifunzia, mafunzo kwa walimu na ufuatiliaji wa utekelezaji wa programu za elimu ya awali shuleni.

“Leo ni siku muhimu kwa shirika letu kwa sababu tumeingia katika makubaliano rasmi na Taasisi ya Elimu Tanzania. Tumekuwa tukishirikiana kwa miaka kadhaa katika kuandaa vifaa vya kufundishia, kutoa mafunzo kwa walimu na kufuatilia utekelezaji wa programu za elimu ya awali,” amesema Ferla.

Ameeleza kuwa kufanikiwa kwa ushirikiano huo kutawezesha shirika hilo kuendelea kutekeleza miradi yake kupitia mifumo na rasilimali zilizopo katika sekta ya elimu nchini, kwa kuzingatia mazingira na muktadha wa elimu Tanzania.

Ferla amesema elimu ya awali na madarasa ya kwanza na ya pili yana umuhimu mkubwa katika safari ya elimu ya mtoto, kwa kuwa ni hatua ambazo hujenga msingi wa utayari wa shule na uwezo wa kumudu stadi muhimu za kujifunza.

Amesisitiza kuwa uwekezaji katika hatua hizo za mwanzo za elimu utasaidia watoto wengi zaidi kupata msingi imara wa kusoma, kuandika na kuhesabu, jambo litakalowawezesha kufanya vizuri zaidi wanapoendelea na elimu ya msingi na hatua nyingine za masomo.

Amesema kuimarishwa kwa msingi huo kutachangia pia kujenga rasilimali watu yenye maarifa na ujuzi unaohitajika katika kukuza uchumi wa Tanzania na kufikia malengo ya maendeleo ya taifa.

Kufikiwa kwa makubaliano hayo kunatarajiwa kuimarisha uratibu kati ya TET na Children in Crossfire, kupanua uwezo wa walimu katika kutumia mbinu bora za ufundishaji na kujenga mazingira yanayowawezesha watoto kupata stadi za msingi katika hatua za mwanzo za elimu yelimu yao.

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NU LIFE FERTILITY CENTRE YATUMIA TEKNOLOJIA YA PGT-A KUBAINI HITILAFU ZA KROMOSOMU KWENYE VIINITETE

Wanandoa wanaokumbwa na tatizo la kuharibika kwa mimba mara kwa mara au kushindwa kupata ujauzito licha ya kupata matibabu ya uzazi wanaweza kunufaika na maendeleo ya uchunguzi wa vinasaba unaosaidia kubaini hitilafu za kromosomu kwenye viinitete kabla ya kuhamishiwa kwenye mfuko wa uzazi.

Uchunguzi huo unaojulikana kitaalamu kama Preimplantation Genetic Testing for Aneuploidy (PGT-A), hufanyika kwa kuchunguza kromosomu za viinitete vilivyotengenezwa kupitia teknolojia ya urutubishaji nje ya mwili (In-vitro Fertilisation – IVF), ili kusaidia kubaini viinitete vyenye idadi inayotarajiwa ya kromosomu kabla ya kuchagua kiinitete cha kuhamisha kwenye mfuko wa uzazi.

Akizungumza jijini Dar es Salaam, Mkurugenzi wa Nu Life Fertility Centre, Ratheen Rawal, alisema kituo hicho kinaendelea kutumia maendeleo ya tiba ya uzazi ili kusaidia kukabiliana na changamoto za ugumba zinazowakabili wanandoa.

Alisema kituo hicho kinashirikiana na wataalamu mbalimbali kuhakikisha huduma mpya za matibabu ya uzazi zinapatikana nchini, hatua inayowawezesha wanandoa kupata fursa za matibabu bila kulazimika kutafuta huduma hizo nje ya ukanda huu.

Uchunguzi wa PGT-A husaidia kubaini viinitete vyenye idadi isiyo ya kawaida ya kromosomu, hali inayoweza kuathiri ukuaji wa kiinitete na kuhusishwa na baadhi ya matatizo ya kijenetiki, ikiwemo Down syndrome na Turner syndrome.

Nu Life Fertility Centre imefanya zaidi ya uchunguzi 800 wa kuchukua sampuli za seli kutoka kwenye viinitete tangu kuanza kutoa huduma hiyo takribani mwaka mmoja na nusu uliopita. Katika kipindi hicho, zaidi ya wanandoa 150 wamefanikiwa kupata ujauzito na kuubeba hadi kujifungua, kwa mujibu wa taarifa za kituo hicho.

Kwa wanandoa ambao wamewahi kupoteza mimba mara kwa mara, kuelewa sababu zinazoweza kuchangia hali hiyo na kujadiliana na mtaalamu wa uzazi kuhusu vipimo vinavyofaa kunaweza kuwasaidia kufanya maamuzi yenye taarifa zaidi kuhusu hatua zinazofuata za matibabu.

Daktari wa Nu Life Fertility Centre, Dk Sheila Ramadhani, alisema hitilafu za kromosomu ni miongoni mwa sababu kuu za kuharibika kwa mimba katika miezi mitatu ya mwanzo ya ujauzito. Alisema uchunguzi wa vinasaba unaweza kuwa muhimu kwa baadhi ya wanandoa wanaokumbwa na tatizo hilo mara kwa mara.

Alieleza kuwa kipimo cha PGT-A hufanyika baada ya mayai ya mwanamke kurutubishwa kwa mbegu za mwanaume kupitia teknolojia ya IVF na kutengeneza viinitete, lakini kabla ya kiinitete kuhamishiwa kwenye mfuko wa uzazi.

“Baadhi ya wanandoa hupata mimba na kuharibikiwa mara mbili au tatu, huku wengine wakishindwa kupata ujauzito licha ya kutumia matibabu mbalimbali ya uzazi. Katika baadhi ya hali hizo, hitilafu za kromosomu zinaweza kuwa chanzo cha tatizo,” alisema.

Aliongeza kuwa kipimo hicho kinaweza kuwasaidia madaktari kufanya maamuzi yenye taarifa zaidi wakati wa kuchagua kiinitete cha kuhamisha, hususan kwa wagonjwa wenye historia ya kuharibikiwa mimba mara kwa mara au viinitete kushindwa kujipandikiza kwenye mfuko wa uzazi.

Kwa upande wake, Mkurugenzi wa Tiba wa kituo hicho, Dk Madhav Hiran, alisema utaratibu huo unahusisha kuchukua idadi ndogo ya seli kutoka kwenye tabaka la nje la kiinitete ambacho kimefikia hatua ya ukuaji inayojulikana kama blastocyst, ambayo kwa kawaida hufikiwa takribani siku ya tano baada ya urutubishaji.

Alisema seli hizo hufanyiwa uchunguzi ili kutathmini muundo wa kromosomu za kiinitete kabla ya kuamua ni kiinitete kipi kitakachohamishiwa kwenye mfuko wa uzazi.

Dk Hiran alisema kubaini viinitete vyenye idadi inayotarajiwa ya kromosomu kunaweza kusaidia katika kupanga matibabu ya IVF, hasa kwa wagonjwa ambao wamewahi kuharibikiwa mimba mara kwa mara au kukumbwa na changamoto ya viinitete kushindwa kujipandikiza.

“Viinitete vinapofikia hatua ya blastocyst, tunachukua seli tatu hadi nne kutoka kwenye tabaka la nje linaloitwa trophectoderm na kuzipeleka kwa uchunguzi. Kipimo hicho huchunguza kromosomu zote 46 na kutusaidia kubaini iwapo kiinitete kina idadi inayotarajiwa ya kromosomu,” alisema.

Wataalamu wanasisitiza umuhimu wa wanandoa wanaokabiliwa na changamoto za uzazi kupata ushauri wa kitaalamu ili kubaini vipimo na njia za matibabu zinazoweza kuwafaa kulingana na historia na hali zao za kiafya. PGT-A si kipimo kinachohakikisha mafanikio ya IVF, na kufaa kwake hutegemea hali ya kila mgonjwa pamoja na ushauri wa mtaalamu wa uzazi.

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TANZANIA BREWERIES AND VETA PARTNER TO EQUIP 300 YOUNG TANZANIANS WITH PRACTICAL AGRICULTURAL SKILLS

Michelle Kilpin, Managing Director of TBL (second right), and CPA Anthony Kasore, Director General of VETA (second left), display the Memorandum of Understanding (MoU) for the TBL Ujuzi-Kwanza Scholarship Programme, which aims to equip young people with practical skills through hands-on training across the agricultural value chain. The programme is funded by TBL. Also pictured are Neema Temba, TBL Director of Corporate Affairs and Regulatory (right), and Dr. Abdallah Ngodu, VETA Director of Vocational Education and Training.

TBL Ujuzi-Kwanza scholarship program to advance youth employability, entrepreneurship and sustainable agricultural value chains

Dar es Salaam, Tanzania, Wednesday, 28 October 2026 - Tanzania Breweries Plc (TBL) and the Vocational Education and Training Authority (VETA) have signed a Memorandum of Understanding (MoU) to launch the Ujuzi-Kwanza Scholarship Program, a partnership aimed at developing practical agricultural skills, creating opportunities for young people and supporting Tanzania's agricultural transformation.

The three-year program will equip 300 young Tanzanians from low-income households with skills across the agricultural value chain, including agricultural production, equipment maintenance, agro-mechanics and related technical competencies. It aims to improve youth employability, encourage entrepreneurship and strengthen agricultural productivity.

Under the agreement, TBL will cover training fees, while VETA will provide accredited training, technical expertise and nationally recognized qualifications. Participants will also gain practical experience in agricultural operations and services, including opportunities within TBL's barley and sorghum farming communities.

The agreement was signed by Michelle Kilpin, Managing Director of TBL, and CPA Anthony Kasore, Director General of VETA. Speaking at the signing ceremony, Kasore emphasized the importance of developing skills that respond to the agricultural sector's evolving needs.

“VETA was established to equip Tanzanians with practical, industry-relevant skills. As our agricultural sector is modernizing, we need skilled young people who can support agricultural production, improve farming practices, maintain equipment and provide essential technical services. This partnership creates opportunities for talented young Tanzanians who might otherwise be unable to afford training, while ensuring their skills respond to real industry needs,” said Kasore.

Agriculture remains central to Tanzania's economy, contributing 26.3% of national output, according to the Economic Survey 2024, and employing more than half of the country's working population, according to the National Bureau of Statistics. As the sector modernizes, demand for skills across agricultural production, irrigation, post-harvest management, mechanization and related services continues to grow.

“Most of what we brew begins on Tanzanian farms. Our business grows alongside the farmers who supply us, and their success depends on access to the right skills, technology and services. By investing in young people with practical agricultural skills, we are creating opportunities for employment and entrepreneurship while strengthening the value chains that sustain livelihoods and support our business,” said Michelle Kilpin, Managing Director of TBL.

With more than 800,000 young Tanzanians entering the labor market annually, according to the Parliamentary Budget Committee, practical agricultural training offers pathways into employment, self-employment and entrepreneurship across farming operations, agricultural enterprises, equipment maintenance and related services. VETA’s most recent tracer study found that 75% of graduates were employed or self-employed, with self-employment accounting for a greater share than formal paid employment.

The partnership builds on TBL's longstanding relationship with Tanzanian farmers since 1933. The company purchases barley and sorghum from more than 2,500 smallholder farmers in Arusha, Kilimanjaro, Manyara and Dodoma, supporting them with seeds, financing, agricultural training and guaranteed markets. Its Kilimanjaro Malting Plant in Moshi completed its first full year of operations in 2025 using locally grown barley, reinforcing TBL's commitment to local agricultural value chains.

Highlighting VETA's expanding role in skills development, Kasore noted that enrolment increased from 69,347 students in 2022/23 to 116,468 in 2025/26, with 65 new colleges expected to open in January 2027.

“As VETA expands access to vocational education, partnerships with industry are essential to bridging the gap between training institutions and labor market needs. Through Ujuzi-Kwanza, we are equipping young Tanzanians with practical skills that translate into employment, entrepreneurship and sustainable livelihoods. Together with TBL, we will track graduates' progress to measure the program’s impact,” Kasore added.

The program aligns with Tanzania Development Vision 2050, particularly its ambitions for a skilled workforce, agricultural transformation and inclusive economic growth. It also supports Agenda 10/30, which targets 10% annual agricultural growth by 2030, and the Building a Better Tomorrow program, which promotes youth participation in agribusiness.

Emphasizing the program’s long-term ambition, Kilpin said: “We will measure success not simply by the number of young people trained, but by what they go on to achieve. Our ambition is to see young Tanzanians turn practical skills into meaningful careers, successful enterprises and sustainable livelihoods, while contributing to a stronger and more productive agricultural sector.”

Ujuzi-Kwanza Scholarship: Empowering Youth, Strengthening Agriculture, Growing Tanzania.

For more information, please contact:

Neema Temba, Director of Corporate Affairs and Regulatory, TBL

Email: tblcorporate.communications@ab-inbev.com

ABOUT TANZANIA BREWERIES PUBLIC LIMITED COMPANY (TBL Plc)

Tanzania Breweries Public Limited Company (TBL Plc) is the country’s first and oldest brewery, founded in 1933 as Tanganyika Breweries. Today, TBL Plc is a proud member of the AB InBev Group, the world’s largest brewer. The company operates breweries in Dar es Salaam, Arusha, Mwanza and Mbeya, a distillery in Dar es Salaam, and seven depots across Tanzania.

TBL Plc’s portfolio features more than 15 brands, including Kilimanjaro Premium Lager, Kili Lite, Safari Lager, Castle Lite, Castle Lager, Balimi Lager, Flying Fish, Stella Artois, Corona, Redds Premium Cold, Bia Bingwa, Eagle Lager, Brutal Fruits and Grand Malt. Its notable spirits and wine brands include Konyagi Gin, Valeur Brandy, Zanzi Cream Liqueur, and Dodoma and Imagi Wines.

TBL Plc is committed to brewing high-quality brands, promoting responsible consumption, and contributing positively to the economic and social development of Tanzania through sustainable business practices and community engagement.

Follow Tanzania Breweries Public Limited Company (TBL Plc) on LinkedIn, Instagram, Facebook and Twitter (X).

ABOUT THE VOCATIONAL EDUCATION AND TRAINING AUTHORITY (VETA)

The Vocational Education and Training Authority (VETA) is an autonomous government agency established under the Vocational Education and Training Act of 1994 to coordinate, regulate, finance, promote and provide vocational education and training in Tanzania. Its vision is a Tanzania with sufficient and competent artisans. VETA enrolled 116,468 students in 2025/26. www.veta.go.tz

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EQUITY BANK, REFOREST AFRICA PARTNER TO PLANT 6,500 TREES AND EMPOWER COMMUNITIES THROUGH FINANCIAL LITERACY

MANG’ULA, MOROGORO – October 27, 2026: Equity Bank Tanzania has partnered with Reforest Africa, a non-governmental organisation focused on forest restoration and environmental conservation, to promote environmental sustainability and community empowerment through a joint initiative combining tree planting and financial literacy training in Mang’ula, Kilombero District, Morogoro Region.

The initiative reflects Equity Bank Tanzania’s commitment to sustainable development by linking environmental conservation with economic empowerment and improved access to financial knowledge and services.

Through the partnership, the two organisations aim to plant a total of 6,500 trees while supporting efforts to restore degraded forests, protect wildlife habitats and encourage communities to take an active role in conserving natural resources, particularly in the Kilombero and Udzungwa areas.

The first phase of the initiative involved planting 1,000 indigenous tree seedlings in Magombera Forest. The selected tree species were suitable for the local environment and are expected to contribute to the restoration of natural habitats and protection of wildlife corridors, including elephant migration routes.

Planting of the remaining seedlings is expected to continue until the end of the year, depending on weather conditions and the suitability of the environment for tree growth.

Strengthening Partnerships for Environmental Conservation

Speaking during the event, Mang’ula Division Secretary and Guest of Honour, Mr. Jasto Msimiyungu, emphasised the importance of collaboration among financial institutions, environmental conservation organisations, government leaders and communities in protecting natural resources and promoting sustainable development.

He noted that environmental conservation is a shared responsibility that requires active participation from all stakeholders to safeguard forests and wildlife habitats for present and future generations.

Mr. Msimiyungu commended Equity Bank Tanzania and Reforest Africa for combining tree-planting activities with financial literacy initiatives, noting that sustainable community development requires both a healthy environment and financially empowered citizens.

Financial Literacy to Empower Women and Youth

Equity Bank Tanzania Head of Sustainability, Ms. Hellen Dalali, said the partnership demonstrates the Bank’s commitment to supporting initiatives that promote environmental conservation while improving the economic well-being of communities.

She explained that sustainable development requires economically empowered communities and a safe environment capable of supporting the well-being of current and future generations.

Through its partnership with Reforest Africa, she said, the Bank is contributing to forest restoration and environmental protection while equipping women and young people with financial knowledge to make informed financial decisions, grow their businesses and benefit from opportunities offered through formal financial services.

Ms. Dalali added that Equity Bank continues to invest in sustainability programmes that integrate environmental conservation, community empowerment and access to inclusive financial services, recognising their importance in building resilient communities.

Following the tree-planting exercise, Equity Bank, through its Women Plus initiative, conducted financial literacy training at Mang’ula A Primary School.

The training brought together more than 150 participants, including women, youth and other community members. Key topics covered included savings, budgeting, personal and business financial management, business growth and understanding formal financial services.

The initiative aimed to strengthen participants’ capacity to manage their financial resources effectively and use available financial services to improve and expand their economic activities.

Women Plus: Expanding Economic Opportunities for Women

Equity Bank Tanzania continues to empower women entrepreneurs and young people by developing financial solutions that address their banking needs and support their participation in economic growth.

Recognising the financial challenges faced by women, the Bank has introduced several solutions under its Women Plus window to improve access to financing and business development opportunities.

These include:

100% financing: Financing for various business and home requirements without the need for an initial 30% contribution.

Loan guarantee: Guarantees of up to 70% to facilitate access to financing for women-owned businesses.

Financial literacy and entrepreneurship training: Free financial education and entrepreneurship training for women's and youth groups, as well as through dedicated events.

Sewing Plus Together: Affordable loans to help customers purchase sewing machines and other sewing equipment.

Customers and stakeholders interested in learning more about Equity Bank Tanzania's products, services and financial solutions are encouraged to visit their nearest Equity Bank branch or call 0768 985 500.

Through its partnership with Reforest Africa, Equity Bank Tanzania continues to demonstrate how financial institutions can contribute to environmental protection, strengthen community resilience and promote inclusive economic development.

By combining forest restoration with financial literacy, the initiative seeks to create lasting benefits for communities while protecting natural resources for generations to come.

About Equity Bank Tanzania

Equity Bank Tanzania Limited is a commercial bank headquartered at Golden Jubilee Towers, Ohio Street, Dar es Salaam.

For more information:

Shumbana Walwa

Equity Bank Tanzania Limited

Phone: +255 689 737 122

Email: shumbana.walwa@equitybank.co.tz

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NBC BACKS AFRICAN INVESTMENT OPPORTUNITIES THROUGH NEW iTRUST ETFs TARGETING FINANCE, MINING & TECHNOLOGY

NBC Bank Managing Director, Theobald Sabi delivers his remarks during the launch of three new investment funds introduced by iTrust Finance, targeting Africa’s financial services, mining, telecommunications and technology sectors. NBC Bank serves as trustee and custodian of the funds.

NBC Bank Managing Director, Theobald Sabi (second left), alongside other stakeholders, including Capital Markets and Securities Authority (CMSA) Director of Market Supervision and Investigation, Exaut Julius (far left), follows proceedings during the launch of three new investment funds introduced by iTrust Finance, targeting Africa’s financial services, mining, telecommunications and technology sectors. NBC Bank serves as trustee and custodian of the funds.

Dar es Salaam, October 27, 2026 – National Bank of Commerce (NBC Bank) is strengthening its role in Tanzania’s capital markets by serving as trustee and custodian of three new investment funds launched by iTrust Finance, offering investors exposure to Africa’s financial services, mining, telecommunications and technology sectors.

Three New ETFs Expand Investment Opportunities

The iAfrica Financials ETF, iAfrica Mining ETF, and iAfrica Telco and Tech ETF provide individual and institutional investors with access to companies listed on African stock markets through the Dar es Salaam Stock Exchange (DSE).

The funds aim to connect investors with sectors that play an important role in driving Africa’s economic growth and development.

Speaking at the launch in Dar es Salaam, NBC Managing Director Theobald Sabi said strong financial institutions were essential to protecting investors’ interests and supporting the growth of increasingly interconnected African capital markets.

“As African capital markets become increasingly interconnected, investors need strong and dependable financial institutions that can safeguard their assets and facilitate efficient, secure and cost-effective cross-border transactions,” Sabi said.

NBC Strengthens Capital Markets Infrastructure

NBC’s appointment as trustee and custodian builds on its longstanding partnership with iTrust Finance and underscores the bank’s contribution to the institutional infrastructure supporting investment products.

Its capabilities include securities custody, trustee services, registry management and collections, complemented by corporate and investment banking services.

The partnership has previously supported other investment initiatives, including the East African Community (EAC) Large Cap ETF, whose initial offer attracted TZS 54.03 billion against a target of TZS 10 billion.

The fundraising outcome demonstrated the potential of exchange-traded funds (ETFs) to mobilise savings and connect investors with diversified investment opportunities.

Funds Target Key African Economic Sectors

The three new iAfrica ETFs extend this approach to sectors with significant economic importance.

Financial services facilitate access to finance and support economic activity, while mining contributes to natural resource development and export earnings. Telecommunications and technology, meanwhile, enable digital connectivity, innovation and the expansion of digital services.

By targeting these sectors, the funds offer investors additional opportunities to participate in the development of African markets through investment products available on the DSE.

NBC Opens Nationwide Support for Investors

Sabi reaffirmed NBC’s commitment to supporting investor participation during the initial offer period, which opened on October 26 and closes on November 27, 2026.

Investors can access subscription assistance through the bank’s nationwide branch network and digital banking channels, including its mobile application.

He encouraged prospective individual and institutional investors to review the offer documents, understand the funds’ objectives and associated risks, and make informed investment decisions.

CMSA Highlights Importance of Collaboration

The launch was officiated by Exaut Julius, Director of Market Supervision and Investigation at the Capital Markets and Securities Authority (CMSA), representing the authority’s Chief Executive Officer, CPA Nicodemus Mkama.

Representatives from the Dar es Salaam Stock Exchange (DSE) and the Bank of Tanzania (BoT) also attended. Sabi was accompanied by NBC Director of Business Banking Elvis Ndunguru and other bank officials.

Julius emphasised the importance of collaboration among regulators, fund managers, trustees and custodians in building investor confidence and supporting the development of Tanzania’s capital markets.

“Collaboration among capital market stakeholders is vital to building investor confidence, supporting transparency and expanding access to investment opportunities,” Julius said.

iTrust Chairman Highlights Africa’s Investment Potential

Meanwhile, iTrust Finance Chairman of the Board of Directors Aunali Rajabali drew on his 25 years of experience investing in East African stock markets to highlight the importance of investment discipline and a long-term perspective.

Rajabali identified Africa’s youthful population, abundant natural resources and growing technology adoption as key factors underpinning the investment opportunities presented by the new funds.

He also acknowledged the contribution of institutional partners, including NBC, in supporting the development and administration of investment products.

“Strong institutional partnerships are essential to developing investment products that investors can access with confidence. NBC’s involvement is an important part of the institutional support behind our investment initiatives,” Rajabali said.

NBC Reaffirms Commitment to Investment Growth

Speaking at the event, NBC Director of Business Banking Elvis Ndunguru said the partnership with iTrust Finance reflected the bank’s commitment to developing investment products that connect savings with opportunities across African markets.

“The initiative also highlights the role of trusted financial institutions like NBC in strengthening market participation and supporting the financial infrastructure needed for long-term economic growth,” Ndunguru said.

The launch marks another step in expanding access to investment opportunities through Tanzania’s capital markets, with the new ETFs providing investors with additional options for gaining exposure to key sectors across Africa.

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ABSA LAUNCHES “MKWANJA KILAINI, NA KADI YA ABSA” CAMPAIGN, GIVING AWAY TZS 60 MILLION IN CASH REWARDS

Absa Bank Tanzania Head of Personal and Private Banking Products and Strategy, Mr. Heristraton Genesis (left), speaks in Dar es Salaam today during the official launch of the 'Mkwanja Kiulaini na Kadi ya Absa' campaign, which aims to encourage the use of digital banking services. Absa has set aside TZS 60 million in cash prizes for the three-month campaign. On the right is Card Issuing Manager, Ms. Erica Mwaipopo.

Absa Bank Tanzania has launched a three-month customer rewards campaign offering TZS 60 million in cash prizes to customers who use its debit and credit cards for everyday transactions.

Dubbed “Mkwanja Kilaini, na Kadi ya Absa” , the nationwide campaign will run from October 15, 2026, to January 15, 2027, as the bank seeks to encourage wider adoption of digital payments and cashless transactions.

Under the campaign, nine monthly winners will share TZS 30 million, with three winners selected each month. The first-prize winner will receive TZS 5 million, the second-prize winner TZS 3 million and the third-prize winner TZS 2 million.

An additional TZS 30 million grand prize will be awarded to one customer at the end of the promotion, bringing the total value of the rewards to TZS 60 million.

Speaking at the launch on behalf of the Director of Personal and Private Banking, Absa Bank Tanzania Head of Personal and Private Banking Products and Strategy, Mr. Heristraton Genesis, said the initiative reflects the bank’s commitment to rewarding customers while encouraging safer and more convenient banking practices.

“At Absa, we continuously look for innovative ways to reward our customers while encouraging smart financial habits. Through the ‘Mkwanja Kilaini, na Kadi ya Absa’ campaign, customers simply need to use their Absa debit or credit cards for everyday purchases and transactions to stand a chance of winning life-changing cash prizes,” he said

Mr. Genesis added that the more qualifying transactions customers make, the more opportunities they have to enter the raffle draws.

He noted that card payments provide convenience, enhanced security, global acceptance and easier access to digital commerce, making them an increasingly practical option in today’s digital economy.

The campaign is open to existing and new Absa customers aged 18 and above who hold an Absa debit or credit card. Customers must make qualifying transactions using their cards and eligible digital banking channels during the promotional period.

Winners will be selected through monthly raffle draws conducted under the supervision of the Gaming Board of Tanzania.

Absa Bank Tanzania Citizenship and Events Manager, Ms. Abigail Lukuvi, said the campaign reinforces the bank’s commitment to placing customers at the centre of its operations.

She said the initiative follows Customer Service Week but represents the bank’s continued efforts to recognise and appreciate customers beyond the annual celebration.

“Our customers are the heart of our business, and ‘Mkwanja Kilaini, na Kadi ya Absa’ is another opportunity for us to recognise, reward and appreciate the trust they continue to place in us every day,” Ms. Abigail said.

She added that Absa had conducted customer reward campaigns for three consecutive years, with previous promotions offering substantial cash prizes and other valuable rewards, including motor vehicles.

According to Ms. Abigail, the campaigns support the bank’s purpose of “Empowering Africa’s tomorrow, together… one story at a time” by recognising customers and helping them achieve goals that matter to them.

The latest promotion also forms part of Absa’s broader strategy to expand digital banking adoption and encourage cashless payments for everyday spending, online purchases and business transactions.

Customers seeking further information about the campaign and its terms and conditions can visit any Absa branch, contact the bank’s Contact Centre or access its website at www.absa.co.tz.

Absa Bank Tanzania Card Issuing Manager, Ms. Erica Mwaipopo, speaks in Dar es Salaam today during the official launch of the 'Mkwanja Kiulaini na Kadi ya Absa' campaign, which aims to encourage the use of digital banking services. Absa has set aside TZS 60 million in cash prizes for the three-month campaign. To her right is Head of Personal and Private Banking Products and Strategy, Mr. Heristraton Genesis, alongside other bank employees.

Absa Bank Tanzania Head of Personal and Private Banking Products and Strategy Strategy, Mr. Heristraton Genesis (seated, fourth from left), poses for a group photo with some of the bank’s employees during the official launch of the 'Mkwanja Kiulaini na Kadi ya Absa' campaign, which aims to encourage the use of digital banking services. Absa has set aside TZS 60 million in cash prizes for the three-month campaign.

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ABSA BANK TANZANIA CELEBRATES CUSTOMER SERVICE WEEK 2026 BY GOING THE EXTRA MILE FOR CUSTOMERS

Absa Bank Tanzania Managing Director, Mr. Obedi Laiser (third left), joins some of the bank’s customers, Evitta Francis (second left) and Adili Mchata, in cutting a cake to officially mark the launch of the bank’s Customer Service Week at the Mikocheni Branch in Dar es Salaam today. On the left is the Director of Retail Banking, Ms. Ndabu Swere.

Absa Bank Tanzania today joined organizations around the world in celebrating Customer Service Week 2026, with the Bank’s Managing Director and Chief Executive Officer, Obedi S. Laiser, officiating the celebrations at the Bank’s Mikocheni Branch, Palm Village, in Dar es Salaam.

The event brought together customers and colleagues under this year’s global Customer Service Week theme, “Extra Mile” highlighting the Bank’s commitment to delivering exceptional customer experiences and creating meaningful impact through every customer interaction.

Speaking during the event, Mr. Laiser emphasized that customer service is at the heart of Absa’s purpose and that every customer interaction contributes to a broader story of growth, ambition and progress.

“Every customer has a story, and every interaction we have with that customer becomes part of that story. At Absa, our brand promise is simple: Your story matters. Behind every transaction, enquiry, application or complaint is a person with ambitions, challenges and expectations. Banking is therefore not only about products and processes; it is about people and the role we can play in helping them move forward,” said Mr. Laiser.

He noted that going the extra mile does not always require grand gestures, but rather the consistent delivery of excellent service through listening carefully, responding promptly, taking ownership and resolving customer needs effectively.

The celebration also provided an opportunity for the Bank’s leadership to engage directly with customers and hear first-hand about their experiences, expectations and aspirations. Following the event, Mr. Laiser visited customers at their business premises, reinforcing Absa’s customer-centric approach and commitment to understanding customers beyond the banking hall.

Addressing customers and colleagues, Mr. Laiser highlighted the importance of embedding a culture that places customers at the centre of every decision and action across the Bank.

“Culture is ultimately experienced by the customer. It is reflected in how quickly we respond, how effectively we collaborate, whether we take ownership when challenges arise, and whether we are prepared to go beyond the minimum required to find solutions. Our customers experience one Absa, and it is our collective responsibility to ensure that experience is seamless and memorable,” he said.

He further underscored the need to combine technological innovation with genuine human connection as customer expectations continue to evolve.

“Our responsibility is to bring together technology and human connection, efficiency and empathy, innovation and trust. As we continue improving our products, platforms and ways of working, we must ensure that every advancement translates into a better experience for the customer,” he added.

As part of the celebrations, Absa recognized the important role employees across all functions play in delivering exceptional customer experiences, including teams working behind the scenes to support seamless service delivery.

Mr. Laiser also expressed gratitude to customers for their continued trust and loyalty.

“As we mark Customer Service Week 2026, we thank our customers for choosing Absa Bank Tanzania and entrusting us with their ambitions, businesses, families and financial journeys. We do not take that trust for granted. Your feedback helps us learn, improve and continuously raise the standard of service we provide,” he said.

Customer Service Week serves as a reminder of Absa’s ongoing commitment to making the Extra Mile more than a theme, but a daily standard that shapes how the Bank listens, responds, creates value and delivers excellence for every customer.

Absa Bank Tanzania Managing, Mr. Obedi Laiser (right), presents a certificate to one of the bank’s employees, Ms. Suma Poland, in recognition of her outstanding performance during the launch of Customer Service Week at the bank’s Mikocheni Branch in Dar es Salaam today. On the left is the bank’s Director of Retail Banking, Ms. Ndabu Swere.

Absa Bank Tanzania Managing Director, Mr. Obedi Laiser (third left), joins some of the bank’s customers, Evitta Francis (second left) and Adili Mchata, in cutting a cake to officially mark the launch of the bank’s Customer Service Week at the Mikocheni Branch in Dar es Salaam today. On the left is the Director of Retail Banking, Ms. Ndabu Swere.

Absa Bank Mikocheni Branch staff pose for a group photo after the official launch of the bank's 2026 Customer Service Week. (Photos by MPP Media)

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