Bank of Tanzania partners with five universities to boost AI and data innovation

The signing ceremony took place at the BoT offices in Dodoma and was attended by representatives from the University of Dar es Salaam (UDSM), University of Dodoma (UDOM), Ardhi University (ARU), East Africa Statistical Training Centre (EASTC), and Nelson Mandela African Institute of Science and Technology (NM-AIST).

BoT Governor Emmanuel Tutuba emphasised the importance of the partnership, announcing that a joint technical team will be established to implement the agreed targets.

“This initiative aligns with the Sixth Phase Government’s goal of achieving a $1 trillion economy by 2050, with AI and innovation playing pivotal roles,” he said.

The governor explained that each MoU establishes a framework for cooperation in AI, data innovation, and applied research, with the aim of improving economic policy formulation and financial sector supervision.

“BoT will implement the MoUs through the AI Data Innovation Hub under the Planning Department,” he added.

The MoUs are supported by Data Sharing Protocols to ensure compliance with the Private Data Protection Act and other data safeguard policies.

These protocols will provide researchers in higher learning institutions with practical problem-solving experience, reduce delays caused by data access constraints, and support innovation in AI and other emerging technologies.

For the Bank of Tanzania, the agreements are expected to accelerate AI experimentation, testing of new tools, replication of global use cases, and innovation in line with the BoT AI & Data Innovation Strategy.

Governor Tutuba described the MoU signing as a strategic move toward responsible, locally driven financial sector innovation.

Speaking at the ceremony, EASTC Rector Dr Tumaini Katunzi noted that the partnership will create opportunities for students to engage directly with the financial sector. NM-AIST Vice Chancellor Prof Maulilio Kipanyula called it a milestone in advancing research and innovation.

Prof Lughano Kusiluka of UDOM assured that the institution would effectively leverage emerging technologies to address challenges faced by BoT, reinforcing collaborative efforts to enhance the financial sector’s institutional capacities.