Exim Bank Tanzania has signed a Memorandum of Understanding (MoU) with the Zanzibar eGovernment Agency (eGaz) geared towards accelerating Zanzibar’s digital transformation journey.
The MoU has been signed after the recent launch of the Zanzibar Digital Government Strategy for 2023-2027 that was graced by Dr. Hussein Ali Mwinyi, President of the Revolutionary Government of Zanzibar.
Speaking before the signing ceremony held in Zanzibar at the weekend, the Exim Bank Chief Finance Officer (CFO) Shani Kinswaga said the signing of the new MoU aligns with Zanzibar’s digital transformation goals laid out in the Isle nation’s Digital Economy Blueprint and Roadmap.
Kinswaga said the bank will leverage on technology as a tool to provide an exceptional digital experience by collaborating with eGaz to digitize payments which will ultimately increase Zanzibar Government’s revenues and improve efficiency.
“This new partnership reiterates Exim bank’s commitment to support sustainable economic development in Zanzibar. As a bank, we believe that the MoU signed today will not only significantly contribute to robust economic growth but help to accelerate Zanzibar’s transformation into a strong digital economy,” Kinswaga said.
He said the bank earlier this year upgraded its core banking system to a more resilient and robust infrastructure, a move geared towards enriching its offerings and delivering customers a heightened sense of security, efficiency, and innovation.
“We are committed to delve into the complete capabilities of our enhanced systems and our commitment persists in delivering beyond conventional banking services to our valued customers in Zanzibar including the Government,” he stressed.
Kinswaga pledged that the bank will continued working with various players in Zanzibar’s Blue Economy agenda to hasten growth in sectors that include tourism, fishing and agriculture by providing seamless banking options.
On his part the Zanzibar eGovernment Agency (eGaz) Managing Director Said Seif Said noted that the partnership between the duos is a strategic one and will help fuel economic growth and facilitate financial and digital inclusion in Zanzibar.
“This is a partnership of its own and has come timely. We have been waiting for this moment for so long and we are glad that we have finally signed the MoU today marking the beginning of our exciting digital transformation journey,” he said.
Said noted that his agency will continue working closely with Exim Bank to implement the Zanzibar Digital Economy roadmap.
“As we embark on this long journey to implement the five-year Zanzibar Digital Government Strategy, we are glad that strategic partners like Exim Bank have come on board and we believe the strategy will now be realized in a shorter period to achieve the set Government objectives,” he said.
Said added digital transformation is a strategic priority for the Zanzibar Government adding that his agency is committed to ensure that people in Zanzibar receive stress-free digital services right at their fingertips through the use of various digital tools including smartphones.
“This partnership will enable us to drive innovation and leverage on Exim Bank’s cutting-edge technologies to deliver a new digital experience in Zanzibar,” he added.