PRESIDENT Jakaya Kikwete is expected to officially launch the 'Mwalimu Nyerere Memorial Scholarship Fund' in Arusha next week.

The event will take place during the two-day Bank of Tanzania (BoT's) 16th Conference of Financial Institutions (COFI) which starts on November 26 at the Arusha International Conference Centre (AICC).

COFI is a forum that was created in 1980 under the auspices of the central bank while the fund was introduced by the BoT in 2009 in commemoration of the Late Mwalimu Julius Kambarage Nyerere.

It brings together, every two years, heads of financial institutions and other stakeholders to exchange views and experience on matters related to the financial system and the country's economy.

The theme of this year's Conference is 'Financial Innovations and Financial Inclusion in Tanzania'. It aims to highlighting the role of financial innovations in Tanzania in supporting financial inclusion, as well as the regulatory and monetary policy challenges.

The BoT Governor, Prof. Benno Ndulu, said that the Fund is championed by the bank with a view to sponsor undergraduate students, particularly female students who pursue Mathematics or Science subjects at Advanced Secondary Education Level and pass with an outstanding performance to pursue first degrees in the related fields in the local universities.

In addition, the Governor said the Fund will also sponsor both female and male students in the fields of Economics, Information Technology, Accountings and Finance to pursue first degrees in the local universities.