News

By Jackson Isdory, CMU

The University of Dar es Salaam (UDSM) and NMB Bank Tanzania have signed a groundbreaking five-year Memorandum of Understanding (MoU) to advance innovation, talent development, and digital transformation in Tanzania.

The MoU, which was signed at NMB headquarters on 23 October 2024, aligns with the national vision for sustainable economic growth through education, technology, and financial inclusion while supporting UDSM's vision to be a leading centre of intellectual wealth spearheading the quest for sustainable and inclusive development .

UDSM's Deputy Vice-Chancellor (Research), Prof. Nelson Boniface, and NMB's Chief Human Resources Officer, Emmanuel Akonaay, formalised the agreement with much optimism on how it will create new pathways for collaboration in areas such as talent acquisition, digital transformation, technological research, product development, and financial support.

Prof. Nelson Boniface expressed gratitude about the impact of the partnership, emphasising the role of Artificial Intelligence (AI) in the current programme and other projects in future.

“We are excited to partner with NMB to empower our bright young minds with the skills they need to innovate and lead. We also aim to explore the possibilities of AI, focusing on ensuring that these technologies are accessible and relevant to Tanzanian business contexts”, said Prof. Boniface.

He said AI presented a unique challenge and opportunity in the programme. “As we incorporate AI into our projects, we must ensure these technologies can communicate in the languages and contexts relevant to Tanzania’s diverse business environments and enhance technological expertise and support inclusive economic growth.”

Aligning with National and UDSM Visions

Prof. Boniface also highlighted how the collaboration aligned closely with Tanzania’s broader economic objectives outlined in Tanzania Vision 2025 and UDSM Vision 2061, emphasising human capital development, technological innovation, and financial sector growth.

He also said that the partnership reinforced UDSM’s strategic goal of becoming a hub of innovation, technology, and impactful research in the region.

Mr Akonaay said the collaboration focused on areas that will yield fruitful results, including talent and skill acquisition, innovation and technology adoption, digital transformation, technological research and insights, product development, and financial support; and reiterated NMB’s commitment to supporting education and skills development in Tanzania.

"Education is a key priority in our Corporate Social Investment Strategy as it lays the foundation for economic development. Through this partnership, we are equipping young Tanzanians with the skills and knowledge they need to drive economic and technological advancements”, he said.

Paving a way for innovative and prosperous Tanzania

Mr. Akonaay also underscored NMB’s long-standing support for the education sector. Over the years, the bank has started scholarships, supported graduate preparation programmes, and offered practical training opportunities to over 1,500 students.

“This collaboration is a testament of both institutions’ dedication to nurturing future leaders and reflects mutual goals and commitment to national development through the power of collaboration between academia and industry that paves a way for a more innovative, inclusive, and prosperous Tanzania”, he added.

Other officials present at the event included Prof. Neema Mori, UDSM Director of Public Services and Dr. Moses Ismail from UDSM College of Information and Technologies (CoICT), who is also the programme coordinator. NMB representatives included the Bank’s Chief Technology Officer and senior legal affairs officers.