By Charles Mkoka
Did you know the Bank of Tanzania runs a scholarship fund? I only recently discovered this myself during a visit to the 49th Dar es Salaam International Trade Fair (DITF), which wrapped up on July 13th, 2025.
While exploring the booths, I came across one hosted by the Bank of Tanzania, and that’s where I stumbled upon a brochure that caught my attention.
The brochure introduced the Julius K. Nyerere Memorial Scholarship Fund, a program I hadn’t heard much about before. It turns out the fund has been around since 2009, and it's designed to support academically exceptional Tanzanian students, with a particular focus on promoting higher education among women.
What stood out to me is that the scholarship doesn’t just cover tuition — recipients also receive field allowances, a stipend covering accommodation and meals, research funds, and even a laptop. It’s designed to remove financial barriers so that students can focus entirely on their education.
There’s a strong emphasis on merit. The fund is open to Tanzanian students under the age of 35 who have excelled in their ACSEE exams in the same year they apply. They must also have secured full-time admission into an accredited Tanzanian university.
Interestingly, while both male and female students can apply for programs in mathematics, science, economics, IT, accounting, or finance, female applicants are given priority, especially in the mathematics and science categories — a thoughtful move to bridge gender gaps in STEM.
Since its launch, the fund has sponsored 90 students. Of those, 59 have already completed their degrees — many with top honors — and are now serving the country in various capacities. The remaining 31 are still pursuing their studies at different universities across Tanzania.
But that’s not all. I also learned about another initiative supported by the Bank — the Gilman Rutihinda Trust Fund, which focuses specifically on postgraduate education in finance and economics.
This fund supports outstanding undergraduates who want to take their studies further at reputable universities within Tanzania. To date, it has funded 45 students — 39 have completed their studies, while six are still enrolled at the University of Dar es Salaam.
Walking away from that booth, I couldn’t help but feel impressed by the Bank’s long-term investment in education. It was a quiet but powerful reminder that institutions like the Bank of Tanzania are doing more than just managing the economy — they’re actively shaping the future of the country through education.