ZANZIBAR’s Vice President, Hemed Suleiman Abdulla has inaugurated the new NMB Wete branch in North Pemba, marking a major milestone in the region’s financial inclusion and economic development.

The event held at the weekend, attended by key government leaders and NMB officials, underscored the growing partnership between the Revolutionary Government of Zanzibar (SMZ) and NMB Bank, highlighting the bank’s vital role in supporting the Isles’ development initiatives.

In his remarks Abdulla said: “The overwhelming response from 1,800 new customers opening accounts on the first day is a clear indication of the community’s demand for accessible banking.”

He said: “This is a vital step toward the prosperity of North Pemba and Zanzibar as a whole. We are committed to working with NMB to ensure that the people of Zanzibar continue to benefit from such invaluable services.”

The branch will offer a comprehensive range of banking services, including loans, deposits, withdrawals, insurance, and currency exchange, all of which will contribute to the economic empowerment of the residents.

Additionally, the Vice President praised NMB’s commitment to expanding digital banking services, noting that these innovations are crucial in meeting the evolving needs of modern banking.

Ibrahim Malogoi, Director of the Bank of Tanzania (BoT) Zanzibar Zone, highlighted NMB’s contributions to Zanzibar’s financial sector.

 Malogoi applauded the bank’s efforts to expand financial inclusion across the region, calling it a key player in the government’s broader economic development strategy.

As part of its commitment to social responsibility, NMB has also made significant donations to local healthcare and educational institutions.

The bank presented medical supplies worth 65m/- to Mzambarauni and Kendwa hospitals, including equipment to improve patient care.

In addition, NMB donated 12m/- worth of hospital and maternity beds to Mzambarauni hospital, alongside a contribution to roofing projects at two local secondary schools.

The donations, valued at over 110m/-, are part of the bank’s ongoing corporate social responsibility initiatives aimed at uplifting the local community.

Juma Kimori, NMB’s chief financial officer, expressed gratitude to the Zanzibar government for creating an enabling environment for financial institutions.

He emphasized that the Wete branch would significantly reduce the burden on residents who previously had to travel long distances for basic banking services.

“NMB’s slogan, ‘Close to You,’ is now a reality for the people of North Pemba. This branch will provide them with essential services that will help drive local economic growth and improve quality of life,” Kimori said.

NMB’s expansion in Zanzibar aligns with the bank’s broader mission to increase access to banking services across Tanzania, particularly in underserved areas.

Wete Branch is NMB’s ninth in Zanzibar and one of 241 branches nationwide. It is part of a network that includes 720 ATMs, 22 of which are located in Zanzibar, making NMB a leading financial institution in the region.

Dr Saada Mkuya Salum, Zanzibar’s Minister of State in the President's Office for Finance and Planning, also praised NMB for its alignment with the government’s financial inclusion policies, which have contributed to the expansion of banking services across the Isles.

She highlighted strategic initiatives, including loans totalling 470m/-, which have been instrumental in financing key development projects.

She said with the opening of the Wete branch, NMB does not just provide financial services—but creates a foundation for sustained growth, prosperity, and inclusion for the people of North Pemba and beyond.

The launch of the NMB Wete branch comes at a significant moment, coinciding with the 61st anniversary of Zanzibar’s Revolution. It underscores the commitment of the Revolutionary Government of Zanzibar to support initiatives that improve the welfare of its citizens.

The collaboration between the government and financial institutions like NMB is seen as a catalyst for long-term economic growth and stability.