Ruth Zaipuna, the bank’s CEO and chairperson of the foundation, said at the launch event yesterday that the scholarship program is part of wider initiatives by the foundation directed at agriculture, education, health, environment and entrepreneurship.
The program targets bright and needy students so that they are enabled to realize their full potential, she said,
The sponsorship and mentorship program was first mooted at the launch of the NMB Foundation last year, thus kicking off with the 2022/2023 financial year, she said, noting that the sponsorship is an all-expenses paid program reaching 150 form five students and 50 university students this year.
It will cost up to 450m/- covering tuition fees, study materials, transport, health insurance, practical training and laptop computers for first year students. This entails all direct costs, while the foundation seeks to mentor those it is sponsoring so as to nurture the next generation at the NMB, she stated.
For the university group, priority went to programs like accounts and statistics, economics, engineering, information and communication technology (ICT) along with oil and gas financing.
The foundation shall work with education stakeholders at grassroots level to ensure that the selection of students is transparent, with only eligible students sponsored. Ward officials will be involved, while internal controls will be exercised to prevent diversions, she said.
As this is the first phase of the sponsorship program, sponsored students will be scaled up in the near future, she stated, reaffirming NMB commitment to liaise with other stakeholders locally and outside Tanzania to enhance education sector development.
To help being about a robust education sector, the foundation will identify stakeholders for partnerships, she elaborated. Sponsorship application forms for this year will be available at bank branches or the foundation website, she added.