BoT public relations officer Graciana Mahega explains the bank’s services to the public during the National Financial Services Week celebrations in Tanga. PHOTO | COURTESY
Tanga. The Bank of Tanzania (BoT) has warned the public, particularly women, against storing money in their bras, saying the practice damages banknotes and forces the government to incur extra costs printing replacements before their lifespan expires.
Apart from being kept in bras, folding money into the corners of kangas or pieces of cloth also causes notes to bend, wear out, and deteriorate more quickly.
The warning was issued on Sunday, January 25, 2026, by a senior officer from the National Payment Systems Directorate, Mr Kidee Mshihiri.
Mr Mshihiri made the call when addressing journalists during the National Financial Services Week, which concludes on Monday, January 26, 2026.
He said if the habit of storing money in bras continues, more banknotes will be damaged prematurely, increasing the financial burden on the government, which could otherwise channel those resources into priority development sectors.
“Money is the backbone of the economy. Without it, a country cannot move forward,” he said.
He urged the public to handle and store money properly, including keeping it in wallets as men do, and to promote financial education in communities, noting that the challenge requires collective effort and greater public awareness.
“I appeal to all Tanzanians to take good care of our money in the right way, and anyone who understands this should help educate others because the problem is serious and requires urgent action from the community,” he added.
He also cautioned people who attend celebrations and social events against throwing money on the ground or sticking it onto a celebrant’s forehead, saying such practices damage banknotes and increase costs for the government.
“It is better to use proper containers for keeping money during ceremonies. Many people do this out of ignorance, but the truth is that it destroys the notes and later costs the government,” he said.
BoT Public Relations Officer, Ms Graciana Mahega, said many visitors to the bank’s exhibition booth showed strong interest in financial literacy, including investing in government bonds and understanding borrowing procedures to avoid informal lenders.
One of the visitors, Mr Godrichi Mgamu, said he gained a better understanding of how to invest in government bonds, noting that he previously had capital but failed to invest due to a lack of adequate knowledge.
Another visitor, Ms Bahati Mohamedi, said: “Money does not belong to one person alone; today it is yours, tomorrow it belongs to someone else. When it gets damaged, it becomes a risk to the entire nation.”
