A new study by researchers from the University of Dodoma highlights how social media personalities, known as 'finfluencers,' are significantly impacting young investors' financial choices in Tanzania.

The research reveals that platforms like TikTok, Instagram, and YouTube have become primary sources for Gen Z seeking wealth creation guidance, cryptocurrencies, stocks, and personal finance advice.While digital access to financial knowledge has expanded, the study warns of risks from unqualified influencers promoting risky advice.

Key factors influencing investment behavior include Fear of Missing Out (FOMO), which drives impulsive decisions based on viral success stories rather than analysis.

The findings emphasize the need for ethical standards in financial influencing and improved literacy programs to help young people navigate digital misinformation.

Researchers note that perceived credibility, platform trust, and engagement with content play critical roles, suggesting Gen Z is becoming more selective despite algorithm-driven pressures.

Experts urge a focus on quality information over viral trends, stressing the importance of understanding risk management and long-term planning for sustainable wealth creation.