THE University of Dar es Salaam’s College of Information and Communication Technologies (CoICT) and NMB Bank on Wednesday signed a five-year strategic Memorandum of Understanding (MoU) which is geared towards enhancing cooperation in the field of Information Communication Technology (ICT) and digital transformation.

The MoU is also meant to support students at CoICT to reach their full potential in the fields of innovation and technology adoption, and the emerging technologies research and development among other issues.

UDSM Vice Chancellor (Research) Prof. Nelson Boniface commended the bank for its continued support to the institution, expressing optimism that the MoU has come at an opportune time.

“We believe that this MoU will help build a comprehensive ICT talent management pipeline that transitions skilled individuals from academia to impactful roles in tech innovation,” he said.

Prof. Boniface noted that with the MoU now in place, UDSM-CoICT will work in carrying out technologies research and explore their impact in the financial industry such as Artificial Intelligence (AI) -based data models.

“UDSM-ColCT will provide human and intellectual resources that can be used by the NMB to fast-track development and launch of new products and services, especially in areas such as fintech, Blockchain, data analytics, AI and cybersecurity to create innovative solutions that cater for evolving customer needs,” he said.

Emmanuel Akonaay, Chief Human Resources Officer at NMB said the MoU reiterates the bank’s long-term commitment to supporting development of the education sector.

Akonaay said the MoU will address five key areas that include identifying high performing students in ICT-related fields across CoICT, innovation and technology adoption, digital transformation, technology and research insights.

“As a long-term partner for UDSM, this partnership reflects our continued commitment to supporting development of Tanzania’s education sector and aligns with our Corporate Social Investment (CSI) strategy. We believe it will help in fostering a collaborative environment where students can gain hands-on experience through internships and real-world projects,” he said.

Akoonay noted that the bank will work closely with UDSM-CoICT to support different individuals such as students and university staff in testing, integrating and deploying solutions and gathering insights on improvement.