ZANZIBAR, Tanzania – June 24, 2026 – President of Zanzibar and Chairman of the Revolutionary Council, H.E. Dr. Hussein Ali Mwinyi, has reaffirmed the Government’s commitment to strengthening partnerships with domestic financial institutions to accelerate the implementation of strategic development projects across the islands.
President Mwinyi made the remarks during a meeting at the State House in Zanzibar with a delegation from Absa Bank Tanzania, led by its Managing Director, Mr. Obeid Laizer, who paid a courtesy visit to discuss areas of mutual cooperation and the bank’s role in supporting Zanzibar’s development agenda.
The President emphasized that significant opportunities remain for local financial institutions to partner with the Revolutionary Government of Zanzibar in financing key infrastructure, economic, and social development projects.
He noted that the Government welcomes financial institutions that demonstrate a strong commitment to supporting national development priorities through investments in strategic sectors that enhance economic growth and improve the well-being of citizens.
President Mwinyi also commended Absa Bank Tanzania for its willingness to collaborate with the Government, describing the partnership as an important catalyst for Zanzibar’s continued economic transformation.
He further explained that the Government has strengthened its development financing framework by diversifying funding sources beyond conventional budget allocations, enabling faster implementation of priority projects while improving efficiency in public service delivery.
The President assured the bank’s leadership that the Government will continue fostering strong partnerships with financial institutions through loans, innovative financing mechanisms, and other investment instruments to deliver major development initiatives.
Speaking during the meeting, Absa Bank Tanzania Managing Director Mr. Obeid Laizer thanked the Revolutionary Government of Zanzibar for its continued cooperation and praised President Mwinyi’s visionary leadership in driving socio-economic development across the islands.
Mr. Laizer reaffirmed Absa Bank Tanzania’s commitment to deepening its partnership with the Government and supporting the successful implementation of projects that promote inclusive economic growth and improve the quality of life for the people of Zanzibar.
The meeting reflects Zanzibar’s broader strategy of leveraging public-private partnerships and financial sector collaboration to mobilize investment, strengthen infrastructure, and achieve sustainable economic development.
