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NMB Bank and the Zanzibar Commission for Public-Private Partnership have signed a deal to cooperate in accelerating public-private partnerships (PPPs) project financing. The Zanzibar Private Partnership is under the President’s Office (Labour, Economy and Investment). The deal, according to NMB Bank’s Chief Finance Officer, Juma Kimori, seeks to increase the participation of the private sector in economic development and job creation.
NMB Bank and the Zanzibar Commission for Public-Private Partnership have signed a deal to cooperate in accelerating public-private partnerships (PPPs) project financing.
The Zanzibar Private Partnership is under the President’s Office (Labour, Economy and Investment). The deal, according to NMB Bank’s Chief Finance Officer, Juma Kimori, seeks to increase the participation of the private sector in economic development and job creation.
Under the MoU, NMB Bank will provide tender guarantee services to players seeking to take part in various strategic development projects in Zanzibar. So far, apart from the Zanzibar Private Partnership, NMB has partnered with several agencies in Zanzibar including the Zanzibar Investment Promotion Authority (ZIPA) and the Zanzibar eGovernment Agency (eGaz).
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In the execution of its intermediary role of providing financial literacy services, NMB Bank has benefited over 10,000 people engaged in seaweed farming and salt production in the aisles. The Zanzibar Commissioner for Public and Private Partnership, Dr Bill Kiwia, said the MoU seeks to ensure the provision of services right at the grassroots level.
