EXIM BANK TANZANIA SUPPORTS UNIVERSITY OF DODOMA'S ENDOWMENT FUND

EXIM Bank Tanzania Head of Treasury, Mr. George Shumbusho (second left) hands over a dummy cheque worth 10m/- to University of Dodoma Vice Chancellor, Prof. Idris Kikula (first right) as part of the bank’s contribution to the University’s Endowment Fund which has been established to cater for the varsity’s immediate needs especially academic researche, during a handover event held in Dar es Salaam over the weekend. Witnessing is the Bank’s Assistant Marketing Manager, Ms. Anita Goshashy (first left).

EXIM Bank Tanzania Head of Treasury, Mr. George Shumbusho (second left) hands over a dummy cheque worth 10m/- to University of Dodoma Vice Chancellor, Prof. Idris Kikula (first right) as part of the bank’s contribution to the University’s Endowment Fund which has been established to cater for the varsity’s immediate needs especially academic researche, during a handover event held in Dar es Salaam over the weekend. Witnessing is the Bank’s Assistant Marketing Manager, Ms. Anita Goshashy (first left).

EXIM Bank Tanzania has contributed a total amount of 10m/- to the recently established University of Dodoma Endowment fund as a part of the bank's plan to support learning and education sector in the country.

The endowment fund has been established to cater for the university’s most immediate needs and invests in new opportunities and initiatives that are in the best interest of its future especially academic research.

Speaking in Dar es Salaam recently just after receiving a dummy cheque from the bank, the University’s Vice Chancellor Prof Idris Kikula said the amount would be deposited in a special account opened for the project’s kick start.

“So far we have successfully received at least 500m/-in cash and pledges from different donors. Once the fund’s implementation plan has been set up, spending distribution will begin although its huge portion will be invested in different scientific research,’’ he said.

In proving that investing in scientific research would result into fruitful results, Prof. Kikula mentioned that recently some of the University’s students invented a special software which can be used in carrying out different election exercises.

“Currently the software is still on trials and we expect to use it during our campus elections,’’ he mentioned, while calling upon other financial institutions in the country to emulate the Exim’s move.

According to the Professor, UDOM has an obligation to keep donors updated about the endowment fund development in accordance with the terms of the agreement.

For his part, Exim’s Head of Treasury Mr. George Shumbusho said his bank decided to support the University as a way of showing its appreciation and support in all matters related to scientific inventions and education development in the country.

“How could we manage to see such an important project being established in the country without our support?’’ he asked while adding that his bank will be ready to support the project once again depending on its implementation’s outcomes and efficiency.