Zanzibar Gears Up for Maritime Transformation with New Passenger Ferry Terminal
Unguja, Zanzibar – The economic landscape of Zanzibar is poised for a significant upgrade with the commencement of construction for the Maruhubi (Mpiga Duru) Passenger Ferry Terminal. Spearheading this ambitious project is the National Bank of Commerce (NBC), which has committed substantial financial backing through a concessional loan. This initiative is anticipated to be a cornerstone in bolstering tourism, trade, and transportation across the archipelago.
The foundation stone-laying ceremony for the terminal, a pivotal moment in its development, was attended by key stakeholders. Representing NBC was Elibariki Masuke, Director of Retail Banking, who participated alongside the Second Vice President of Zanzibar, Hemed Suleiman Abdullah, who officiated the event.
This transformative project is being realized through a strategic Public-Private Partnership (PPP) involving the Zanzibar Ports Corporation and the Zanzibar Ferry Development Company Limited. The Maruhubi terminal is designed to alleviate congestion at the existing Malindi Port and dramatically improve the efficiency of passenger movement. Projections indicate that the new terminal will be capable of handling approximately 8,000 passengers daily, translating to nearly three million passengers annually.
Upon completion, the state-of-the-art facility will be equipped to accommodate a diverse range of marine vessels, including:
* Standard passenger ferries
* High-speed passenger ferries
* Roll-on/Roll-off (Ro-Ro) vessels
* Marine taxis
Beyond its core transportation functions, the terminal is envisioned as a comprehensive hub. It will feature a dedicated duty-free zone, a variety of retail outlets, a modern marina, and a seaplane port. These additions are expected to significantly reinforce Zanzibar’s standing as a prominent regional maritime and tourism destination.
The overall project is estimated to cost around $400 million and will be executed in two distinct phases over a three-year period. NBC Bank has been identified as one of the principal financiers, underscoring its integral role in the project’s realization.
NBC’s Commitment to Zanzibar’s Growth
Speaking at the sidelines of the ceremony, Elibariki Masuke expressed NBC’s pride in supporting a project that directly aligns with Zanzibar’s overarching development priorities. He highlighted the bank’s proactive role, noting that NBC was the first financial institution to provide crucial backing through bridge financing for Phase One A of the project, which commenced in February 2024.
Masuke further elaborated on NBC’s commitment to enhancing operational efficiency and transparency at both the Maruhubi and Malindi ports. The bank will be instrumental in implementing advanced digital revenue collection systems, a move designed to streamline financial processes and foster greater accountability.
The engagement between NBC Bank and the Zanzibar Ferry Development Company is a direct outcome of a Memorandum of Understanding (MoU) signed in 2023 between the company and the Revolutionary Government of Zanzibar. This MoU outlines the framework for the development of modern passenger and cargo terminals.
Masuke reiterated NBC’s steadfast dedication to supporting both government-led initiatives and private sector endeavors. He characterized the bank as a long-term strategic partner in Zanzibar’s continuous pursuit of sustainable economic growth and prosperity.
Jaffer Machano, Managing Director of Zanzibar Ferry Development Company Limited, lauded NBC Bank for its invaluable financial support. He emphasized that this backing was absolutely critical to the successful and timely implementation of the Maruhubi terminal project. Machano specifically pointed to the bank’s early commitment as a key catalyst in advancing the terminal’s development stages.
This latest initiative by NBC Bank follows its recent successful role as Lead Arranger and Manager of a substantial $200 million facility for the Revolutionary Government of Zanzibar. This facility is dedicated to financing major social and economic development projects across the Isles, further cementing NBC’s position as a vital partner in Zanzibar’s progress.
As part of its broader strategy to broaden access to financial services and champion inclusive economic development, NBC Bank currently operates two branches within Zanzibar. Complementing these branches, the bank has established over 200 banking agents strategically located throughout the archipelago, ensuring wider reach and accessibility for its services.
