PRESIDENT MWINYI UNVEILS NEW PEOPLE'S BANK OF ZANZIBAR BRANCH IN MWANZA

The President of Zanzibar and Chairman of the Revolutionary Council, Dr. Hussein Ali Mwinyi (center), cuts a ribbon to signify the inauguration of a new branch of the People's Bank of Zanzibar (PBZ) located in the Nyamagana District of Mwanza during a brief ceremony held in the city yesterday. Others in the picture include Minister of Finance for the United Republic of Tanzania, Dr. Mwigulu Lameck Nchemba (second right); Zanzibar's Minister of State-President's Office (Finance and Planning), Dr Saada Mkuya Salum (third right); the District Commissioner of Nyamagana, Ms. Amina Nassoro Makilagi (fourth right); the First Lady - Zanzibar, Mama Mariam Mwinyi (to the right of President Mwinyi); Managing Director of PBZ (third left); along with other government and bank officials.

The President of Zanzibar and Chairman of the Revolutionary Council, Dr. Hussein Ali Mwinyi (third from right), receives a special gift from the Managing Director of the People's Bank of Zanzibar (PBZ), Mr. Arafat Haji (fourth left), during a brief inauguration ceremony of the bank’s new branch located in Nyamagana district, Mwanza, held in the city yesterday. Others in attendance include Minister of Finance for the United Republic of Tanzania, Dr. Mwigulu Lameck Nchemba (third left); Minister of State in the Office of the President for Finance and Planning, Zanzibar, Dr. Saada Mkuya Salum (second right); District Commissioner of Nyamagana, Ms. Amina Nassoro Makilagi (second left); First Lady – Zanzibar, Mama Mariam Mwinyi (right); along with other government and bank officials.

Mwanza: October 14, 2024 – In a momentous stride towards economic enhancement for both Zanzibar and mainland Tanzania, Dr. Hussein Ali Mwinyi, President of Zanzibar and Chairman of the Revolutionary Council, inaugurated a new branch of the People's Bank of Zanzibar (PBZ) in Mwanza. This strategic establishment promises to not only broaden access to financial services but also unlock a myriad of economic opportunities for the local populace.

The launch event, held in Mwanza's Nyamagana district, was a gathering of distinguished officials and community members. Among the notable attendees were Dr. Mwigulu Lameck Nchemba, the Minister of Finance for the United Republic of Tanzania; Dr. Saada Mkuya Salum, the Minister of State in the President's Office for Finance and Planning in Zanzibar; and Ally Suleiman Ameir, the Minister of State for Zanzibar State House Affairs.

The attendees also included Mwanaasha Khamis Juma, the Chairperson of the Budget Committee of the House of Representatives, and Ms. Amina Nassoro Makilagi, the District Commissioner of Nyamagana, who represented the Regional Commissioner. Mr. Joseph Abdalla Meza, Chairman of the PBZ Board of Directors, alongside the bank’s Managing Director, Mr. Arafat Haji, completed the lineup of speakers who pledged their commitment to the community and the nation.

In his keynote address, Dr. Mwinyi urged the citizens of Mwanza and the surrounding Lakes Region to actively take advantage of the banking services now available to them. He articulated a vision where PBZ’s presence aligns with the government’s overarching goal of bringing economic unity to the nation.

"The establishment of PBZ branches across mainland Tanzania and the Zanzibar islands functions as a vital bridge for fostering unity and enhancing economic opportunities. This bank is set to unlock avenues for various groups, such as farmers, livestock keepers, entrepreneurs, traders, and public and private sector employees. I foresee robust interactions between Zanzibar and the Lakes Region flourishing as a direct result of this branch," the President emphasized.

Dr. Mwinyi also expressed his approval of the bank's commitment to quality service and its community-driven programs supporting sectors like sports, education, and healthcare. "I am hopeful that the residents of Mwanza will benefit immensely from PBZ's commitment to corporate social responsibility," he added.

Echoing the sentiments of the President, Mr. Arafat Haji, the Managing Director of PBZ, elaborated on the impactful role the new branch would play in the economic landscape of Mwanza. He emphasized that the enhanced banking services would offer critical empowerment and loan opportunities to a diverse range of demographic groups, including farmers and entrepreneurs.

"It is no coincidence that we opened this branch during a month dedicated to celebrating customer service. This development will bring our services even closer to the people of Mwanza and the surrounding regions, in alignment with our Customer Service Week motto: 'Above and Beyond,'" Mr. Arafat noted.

Mr. Arafat further praised the collaborative leadership of President Dr. Mwinyi and President Dr. Samia Suluhu Hassan, commending their ongoing efforts to craft policies that nurture economic growth and strengthen financial institutions across the nation. As the seventh-largest bank in Tanzania, boasting assets exceeding 2.3 trillion shillings, PBZ is consistently expanding its footprint, having recently established branches in three new regions: Morogoro, Mbeya, and Mwanza.

Looking ahead, Mr. Arafat reaffirmed the bank's strategic plans to reach additional regions, including Arusha and Tanga. He also highlighted the accessibility of PBZ’s services through a variety of platforms, including VISA cards, Umoja Switch cards, agents nationwide, mobile banking, and Internet Banking.

The inauguration of the PBZ branch in Mwanza marks a pivotal moment not just for the bank, but for the entire community. With promises of improved financial services, increased economic opportunities, and a focus on community engagement, President Mwinyi's vision of a united, economically thriving Tanzania is becoming ever more attainable. Residents are encouraged to leverage these opportunities and take active steps toward their financial empowerment.