A recent study by researchers from the University of Dodoma (UDOM) reveals that social media influencers, or 'finfluencers', are significantly shaping how young people in Tanzania approach investing.

The research highlights how platforms like TikTok, Instagram, and YouTube have become primary sources of financial information for Gen Z, replacing traditional advisors like bank specialists and stockbrokers.

While this democratization of financial knowledge has expanded access to investment education, it also poses risks as inexperienced investors may follow unqualified advice driven by online popularity rather than expertise.

The study identifies Fear of Missing Out (FOMO) as the strongest predictor of investment behavior, with young people often acting on emotional urgency from viral success stories rather than careful analysis.Researchers urge the development of ethical standards for financial influencers and enhanced literacy programs to help Gen Z make informed decisions.

They emphasize that sustainable wealth creation requires understanding risk management, long-term planning, and disciplined investing over chasing viral trends.