The annual Zeze Awards were devised to meet one of the principal objectives of Tanzania Culture Trust Fund; that of awarding recognition for excellence to outstanding actors whose contribution in the culture sector has not been recognised. Deserving actors (individuals, institutions or groups) are those who have worked tirelessly to fight for and promote certain aspects of culture.

The awards aim at promoting and motivating such initiatives so as to encourage innovativeness in design, development and marketing of products and services for a competitive local as well as international market.

The Mfuko's Zeze Award is bestowed upon recipients during the annual Mfuko's Cultural Week, which traditionally takes place for one week from 1st to 6th November. However, the events for year 2004 will take a new face, as Mfuko plans to have completely new events that are aimed at taking Mfuko Week to the people. Details about this will be released in the media soon.

The recipients are normally given the Zeze Trophy, a Certificate and cash ranging from Tshs. 1,000,000 to 3,000,000.

The identification and selection of nominees involves various practitioners and stakeholders of the culture sector as well as the general public. Every year, nominees' proposals are submitted to Mfuko's Secretariat or its constituencies after invitations are advertised in the local media. Afterwards, there follows a screening procedure that involves Constituencies Committees, Board of Trustees' Award Committee and finally the full Board of Trustees.

Since the establishment of Mfuko, 48 recipients have received the Zeze Cultural Award including 12 women, 31 men and four children. Only one group has so far received the award.