Zanzibar President and Chairman of the Revolutionary Council, Dr. Hussein Ali Mwinyi, has called on the People's Bank of Zanzibar (PBZ) to deepen its investment in modern technology, artificial intelligence (AI), and financial system security to enhance efficiency, innovation, and competitiveness in the banking sector.
Speaking during the bank's 60th anniversary celebrations at the Golden Tulip Zanzibar Airport Hotel on June 30, 2026, Dr. Mwinyi commended PBZ for its achievements in digital banking while urging it to accelerate technological transformation to position itself among Tanzania's leading financial institutions.
The President said the future of banking depends on embracing advanced technologies and encouraged the bank to strengthen its digital infrastructure, improve cybersecurity, develop innovative financial products and services, and integrate AI into its operations to better serve customers.
Beyond technological advancement, Dr. Mwinyi urged PBZ to reinforce its capital base, expand access to financial services, and continue empowering young people and women through inclusive financial solutions.
He also stressed the importance of investing in human capital, strengthening corporate governance, enhancing risk management, and maintaining close collaboration with the government in implementing national development projects.
He noted that the bank's dividend payment of Sh15.3 billion to the Government reflects its financial strength and growing contribution to national development.
Dr. Mwinyi expressed confidence that PBZ has the potential to become "the People's Bank and the People's Choice" by maintaining high standards of service, embracing innovation, and playing an even greater role in driving the economic growth of Zanzibar and Tanzania as a whole.
The President said the bank's continued success would not only strengthen the country's financial sector but also support broader efforts to promote economic inclusion, investment, and sustainable development.
