NMB Bank to provide 200 scholarships for students

Dar es Salaam. NMB Bank Plc – through its NMB Foundation – announced that it would issue 200 students with its NMB Nuru Yangu Scholarship and Mentorship Programme this year as the lender strengthens its corporate social investment efforts in communities across Tanzania.

Launched in September, 2022, the NMB Foundation is a not-for-profit institution that serves as the social arm of Tanzania’s most profitable lender.

“Starting this academic year, we are giving out 200 scholarships whereby 150 will be selected from the best performing Form 5 (A Level) students while the remaining 50 will be those doing their first year of university schooling,” the board chairperson for NMB Foundation and chief executive officer for NMB Bank Plc, Ms Ruth Zaipuna said in Dar es Salaam yesterday.

The programme targets bright and needy students in NMB Bank’s efforts to support them so they can realise their full potential.

NMB Bank will shoulder all the costs associated with the learning needs of the 200 students who will be picked through the programme, with a total of Sh450 million scheduled to be spent this year on the programme. The money covers costs for tuition fees, scholastic materials, transport, health insurance, practical training and laptop computers for the first-year university students.

“The sponsorship covers all the direct costs that a student will need to be in class. We will also mentor all the successful students as part of our efforts to nurture the next generation,” she said.

She said for university students, a particular priority will be directed towards programmes such as Accounts and Statistics, Economics, Engineering, Information and Communication Technology (ICT), Oil and Gas and Medical studies.

“We will work closely with all the relevant stakeholders right from ward level to ensure that eligible students.

We have already set the terms and conditions of the programme which should be abided to internally to avoid diversions. This is the first phase of the sponsorship program. We anticipate the number of sponsored students to scale up in the near future,” she added.

Ms Zaipuna during the event reiterated the bank’s commitment to support the country’s education sector development adding that the bank will continue working with all the stakeholders both inside and outside Tanzania to enhance development of the sector.

“Our plan is to continue working with various development partners to ensure a robust education sector.

We will continue identifying some of the stakeholders we can partner with in our quest to support development of the education sector,” she added.

She said sponsorship forms for the Nuru Yangu Sponsorship and Mentorship Program 2022 will be available at all of the bank’s branches or accessible via the bank’s website.