AfricaPress-Tanzania: THE Revolutionary Government of Zanzibar has been impressed with NMB Bank Plc’s willingness to cooperate and support various development initiatives to build an inclusive economic growth.
Speaking at an event attended by Zanzibar President, Dr Hussein Mwinyi, in Zanzibar at the weekend, Mjini Magharibi Regional Commissioner Idrisa Kitwana Mustafa said NMB Bank’s contribution to harnessing and building the blue economy would be of paramount importance.
The development of the blue economy is one of the key agendas of the 8th Zanzibar government.
Speaking at the launch of the 10th House of Representatives, Dr Mwinyi pledged to build new Zanzibar through the modern blue economy.
He said the government planned to invest massively in the construction of huge and modern ports with adequate infrastructure to support fishing, fish processing and tourism, among other marine economic activities.
NMB Bank Chief Executive Officer Ruth Zaipuna said during the event that the bank was ready to work with the Zanzibar government to realise the ambitious blue economy, and to begin with last week, the bank trained fishers and farmers in financial issues, a programme intended to reach 2,000 people by March next year.
“After this capacity building programme, the bank will start issuing affordable Fanikiwa loans ranging between 500,000/- and 5m/-,” she added.
She said the bank was active in supporting efforts to build the economy and would support Dr Mwinyi in various development projects.
She said NMB Bank was not only promising to support various development projects, but had also the financial capability to realise its plans.
“NMB Bank has financial capacity to participate in strategic mega projects. The bank has assets worth over 7tri/- with sufficient capital and liquidity,” she said.
“Your excellence President we are ready to serve Zanzibar people to realise the dreams of the new government,” she added.
The Taarab music night event was organised by the ruling party CCM from Mjini Magharibi Region, in collaboration with NMB Bank to congratulate Zanzibar President and Chairman of the Revolutionary Council, Dr Mwinyi on his landslide victory.
Other leaders from Zanzibar also commended NMB Bank while pledging to support it in its operations in the Isles.
Apart from Zanzibar President, others who participated in the event were Second Zanzibar Vice-President Hemed Suleiman Abdullah and Speaker of the Zanzibar House of Representative Zubeir Ali Maulid.
“Active participation of NMB Bank in the event is clear evidence of the bank’s readiness to work and support Zanzibar’s development agenda,” noted CCM Deputy Secretary General Dr Abdalla Juma Mabodi.
“NMB Bank’s contribution to the Isles’ economy is immense. As the ruling party and government, we congratulate and thank NMB Bank on their readiness to support development initiatives,” he said.
