Mwinyi inaugurates new PBZ Bank branch in Mwanza, encourages citizens to embrace opportunities

MWANZA: In a significant move to bolster economic development in both Zanzibar and Tanzania (Mainland), Zanzibar President, Dr. Hussein Ali Mwinyi, on Sunday officially launched a new branch of the People’s Bank of Zanzibar (PBZ) in Mwanza.

The establishment is poised to enhance economic opportunities for the residents, especially by facilitating and expanding access to loans and financial services.

The ceremony in Nyamagana district attracted a host of dignitaries from both the mainland and Zanzibar, including Dr. Mwigulu Nchemba, the Minister of Finance (Tanzania-Mainland) Dr. Saada Mkuya Salum, Zanzibar’s Minister of State-President’s Office (Finance and Planning); and Ally Suleiman Ameir, the Minister of State- Zanzibar State House Affairs.

Other prominent attendees also included Mwanaasha Khamis Juma, Chairperson of the Budget Committee of the House of Representatives, and Ms. Amina Nassoro Makilagi, the District Commissioner of Nyamagana, who represented the Regional Commissioner.

The event saw Mr. Joseph Abdalla Meza, Chairman of the PBZ Board of Directors, alongside the bank’s Managing Director, Mr. Arafat Haji, in attendance.

During his address, Dr. Mwinyi urged the citizens of Mwanza and the broader Lakes Region to take full advantage of the banking services. He emphasized that PBZ’s commitment to expanding its presence across mainland Tanzania aligns with the government’s goal of economically unifying the nation.

“The establishment of PBZ in various regions of mainland Tanzania and the Zanzibar islands serves as a crucial bridge to foster unity and enhance economic perks for all. This bank will unlock opportunities for diverse groups, including farmers, livestock keepers, entrepreneurs, traders, and public and private sector employees. I anticipate that the interactions between Zanzibar and the Lakes Region will flourish with the opening of this branch,” Dr. Mwinyi stated.

He lauded the bank’s dedication to quality service and its community-oriented initiatives, including support for sports, education, and healthcare. “I am optimistic that the people of Mwanza will benefit from PBZ’s commitment to corporate social responsibility,” he remarked.

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Earlier, Mr. Arafat Haji, the Managing Director of PBZ, shared the positive impact th new branch would have on Mwanza’s residents. He highlighted that the improved banking services would provide meaningful opportunities for empowerment and loans to various demographics, including farmers and entrepreneurs.

“It is no coincidence that we opened this branch in a month dedicated to celebrating customer service. This branch will bring our offerings closer to the residents of Mwanza and surrounding areas, in line with the motto of Customer Service Week, ‘Above and Beyond,'” he affirmed.

Mr. Arafat also acknowledged the persistent efforts of both President Dr. Mwinyi and President Dr. Samia Suluhu Hassan in crafting policies that promote economic growth and foster the success of financial institutions in the country.

As the seventh-largest bank in Tanzania, with assets surpassing 2.3 trillion shillings, PBZ continues to expand its reach, having launched branches in three new regions this year: Morogoro, Mbeya, and Mwanza.

“In our strategic plan, we intend to open additional branches in regions such as Arusha and Tanga among others,” Mr. Arafat noted, reaffirming that PBZ’s services are widely accessible through various platforms, including VISA cards, Umoja Switch cards, nationwide agents, mobile banking, and Internet Banking.