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| Dr. Juma Malik Akil, Minister of Finance and Planning Zanzibar (second right), together with Jaffari Matundu, Chief Executive Officer of Exim Bank Tanzania (second left), cuts the ribbon as a symbol of the official opening of the bank’s new Paje Branch in Zanzibar. The branch aims to bring financial services closer to residents and business people in the area, while supporting the growth of tourism and Zanzibar’s blue economy. The event was witnessed by Andrew Lyimo, Head of Retail Banking at Exim Bank Tanzania (left), and Hon. Othman Ali Maulid, District Commissioner of Unguja South Region (right). The ceremony took place on 21 February 2026 in Paje, Zanzibar. |
Zanzibar, 21 February 2026 – Exim Bank Tanzania has officially launched its new Paje Branch in Zanzibar, marking a significant milestone in expanding access to financial services and accelerating the growth of the islands’ blue economy.
The new branch positions the bank closer to individuals and businesses in one of Zanzibar’s fastest-growing economic zones, reinforcing the financial sector’s contribution to tourism, entrepreneurship, and sustainable development.
A Strategic Step for Zanzibar’s Economy
The launch ceremony was officiated by the Guest of Honour, Dr. Juma Malik Akil, Minister of Finance and Planning Zanzibar. The event brought together government leaders, financial institutions, private sector stakeholders, and development partners — underscoring the importance of collaborative growth.
Speaking at the event, Exim Bank Chief Executive Officer, Jaffari Matundu emphasized that the Paje Branch reflects the bank’s broader strategy of deepening financial inclusion.
“The launch of this branch not only expands our service network but also reaffirms our commitment to advancing economic empowerment and ensuring that financial services are accessible to people where they are,” said Matundu.
28 Years of Growth and Regional Expansion
Over the past 28 years, Exim Bank has grown into one of Tanzania’s leading financial institutions. Notably, it became the first Tanzanian bank to expand beyond national borders, establishing operations in Comoros, Djibouti, and Uganda, alongside a representative office in Ethiopia.
Its domestic expansion strategy has also remained strong. In the past year alone, the bank opened branches in Kahama and Ubungo. The launch in Paje marks its first expansion of 2026, with Geita set to follow.
This steady growth demonstrates the bank’s commitment to delivering quality financial services — from business financing to advanced digital solutions — closer to communities across the country.
Powering Paje’s Tourism-Driven Blue Economy
Paje has rapidly emerged as one of Zanzibar’s most vibrant economic hubs, largely fueled by the expansion of tourism — a central pillar of the blue economy. The new branch is strategically positioned to serve tourism investors, fishermen, entrepreneurs, and small and medium-sized enterprises (SMEs).
By offering tailored financial products and accessible banking services, Exim Bank aims to unlock capital, stimulate local enterprises, and strengthen value chains within the tourism and marine sectors.
One standout solution is the bank’s Supply Chain Finance service, which enables businesses within value chains to access short-term financing quickly and conveniently — without requiring additional collateral. This innovation eases payments, improves cash flow, and enhances productivity, particularly for SMEs.
Government Applauds Private Sector Collaboration
In his remarks, Dr. Akil commended the bank’s investment in Paje:
“The opening of the Exim Bank Branch here in Paje is an important step in supporting Zanzibar’s economic growth, particularly in tourism. The availability of financial services close to investors and businesspeople stimulates business growth, employment, and citizens’ incomes. The Government continues to encourage close collaboration with the financial sector in our journey toward sustainable development.”
His statement reflects the government’s broader vision of leveraging financial sector partnerships to drive inclusive and sustainable economic transformation.
Beyond Banking: Community Investment Through Exim Cares
Exim Bank’s commitment extends beyond financial services. Through its Corporate Social Responsibility programme, Exim Cares, the bank continues to invest in health, education, environmental conservation, and community empowerment.
Key initiatives include:
- Blood donation campaigns in collaboration with the National Blood Transfusion Services (NBTS)
- Donation of medical equipment to hospitals
- Participation in tree-planting and environmental conservation projects
- Support for the renovation of mental health services for children and youth at Muhimbili National Hospital
As part of its Paje launch activities, the bank plans to donate desks to Paje School and office furniture to the new Paje Police Station — reinforcing its belief that quality education and community safety are foundational to sustainable development and a thriving business environment.
Strengthening Social Cohesion
Demonstrating solidarity and community spirit, Exim Bank also hosted a Ramadan Iftar on 20 February 2026, bringing together customers, stakeholders, and community leaders. The gathering reflected the bank’s values of partnership, compassion, humility, and social cohesion — strengthening relationships beyond transactional banking.
A Development Partner for Zanzibar
The launch of the Paje Branch further solidifies Exim Bank’s role as a strategic development partner to the government, private sector, and wider community. By bringing financial services closer to the people, supporting tourism and SMEs, and investing in social development, the bank continues to contribute meaningfully to Zanzibar’s economic growth and the prosperity of Tanzania as a whole.
As Zanzibar’s blue economy expands, access to inclusive and innovative financial solutions will remain a key driver — and Exim Bank is positioning itself at the heart of that transformation.
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