President of Zanzibar and Chairman of the Revolutionary Council, Hussein Ali Mwinyi, has called on local financial institutions to strengthen their cooperation with the government in supporting development projects that directly benefit citizens.
He said there are still many opportunities for banks and other financial institutions in Tanzania to work closely with the Government of Zanzibar in financing key projects aimed at improving services, creating jobs, and boosting economic growth.
President Mwinyi made the remarks on 24 June 2026 at the State House in Zanzibar during a meeting with a delegation from Absa Bank Tanzania, led by its Managing Director, Obeid Laizer, who paid a courtesy call to introduce the bank’s leadership and discuss areas of cooperation.
He said the government welcomes partnerships with local banks that are ready to support development priorities, especially in strategic projects that improve the lives of ordinary people and strengthen the economy.
“We are open to working with financial institutions that are committed to supporting development. There are many areas where we can cooperate for the benefit of our people,” President Mwinyi said in general terms during the meeting.
He added that the government has continued to improve its financing systems for development projects by widening funding sources beyond the traditional budget.
This, he said, is helping to speed up implementation of projects and improve efficiency in public spending.
According to him, stronger collaboration with banks is important in ensuring that major development projects are completed on time and deliver real benefits to citizens, including better infrastructure, improved social services, and economic opportunities.
President Mwinyi also commended Absa Bank Tanzania for showing readiness to work with the government and contribute to Zanzibar’s development agenda.
He said such partnerships reflect the important role of the private sector in supporting national growth.
For his part, Absa Bank Tanzania Managing Director Obeid Laizer thanked the Revolutionary Government of Zanzibar for its cooperation with the bank and praised President Mwinyi’s leadership in promoting development on the islands.
He said the bank is committed to continuing its partnership with the government in financing development projects that aim to improve livelihoods and support sustainable economic growth in Zanzibar.
