NMB Bank Plc, a Tanzanian commercial bank, and the Revolutionary Government of Zanzibar have signed a Memorandum of Understanding (MoU) to enhance online services for investors.
The three-year deal will see NMB Bank and Zipa, the Zanzibar Investment Promotion Agency, upgrade the Zanzibar Investment Electronic Window (ZIeW). The ZIeW is a one-stop shop for investors to register their businesses and obtain the necessary permits and licenses.
The MoU is expected to make it easier and faster for investors to do business in Zanzibar. It will also help attract more investment to the region.
The partnership between NMB Bank and Zipa has several goals, including:
- To improve the efficiency of the ZIeW
- To make it easier for investors to do business in Zanzibar
- To attract more investment to the region.
NMB Bank will play a leading role in the partnership. The bank will provide technical and financial support to Zipa to upgrade the ZIeW. NMB Bank will also offer investors financial and fiscal solutions, including digital tax collection.
Zipa will be responsible for the day-to-day management of the ZIeW. The agency will also work with NMB Bank to promote investment in Zanzibar.
The MoU is a significant step in Zanzibar’s efforts to become a more attractive destination for investment. The partnership between NMB Bank and Zipa is a clear sign of the government’s commitment to improving the business environment in Zanzibar.