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Zanzibar Government Partners with NMB Bank to Boost Online Investment Services.



Zanzibar has announced a three-year partnership deal with NMB bank to improve its online investment services, with the goal of becoming the most attractive investment destination in the region. The collaboration between NMB bank and the Zanzibar Investment Promotion Agency (ZIPA) seeks to enhance the Zanzibar Investment Electronic Window (ZIeW) as part of the second phase of the investor e-service improvement project. The ZIeW is an e-government portal designed to make it easier for investors to register their businesses and pay fees online. The new partnership aims to integrate ZIeW with other e-government portals to further streamline the registration process. The Minister of State, President's Office, Labour, Economy, and Investment, Mudrik Ramadhan Soraga, expressed his satisfaction with the partnership, stating that it was an important milestone in the digital transformational journey of the Eighth Phase Government. He added that the government aims to digitalise all its operations and delivery of public services by 2026. Ruth Zaipuna, the CEO of NMB Bank, said that the partnership will help to accelerate investment in Zanzibar, making ZIPA a centre of excellence in providing quality and speedy services to investors. The partnership also aims to link ZIeW with other regulatory dockets such as the Immigration Department and the Zanzibar Business and Property Registration Agency. It will also promote investment incentives and opportunities and offer investors financial and fiscal solutions, including digital tax collection. According to Shariff Ali Shariff, the Executive Director of ZIPA, phase one of ZIeW has already produced positive results, including an increase in registration requests and fee payments made digitally. He added that the revised Zanzibar Investment Guide, launched in March, emphasised the importance of public-private sector collaboration in promoting investment. Zanzibar President Hussein Mwinyi has also emphasised the importance of enhancing the business environment and better investment conditions in Zanzibar through public-private sector collaboration. The Director General of Zanzibar's E-Government Agency, Said Seif Said, said that NMB was not only the right lender to bank with but also the right partner in Zanzibar's quest to become a digital economy.

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