ZANZIBAR: The National Bank of Commerce (NBC) has been recognized as the Best Bank in Financing Construction Projects in Zanzibar at the Zanzibar International Construction Awards (ZICA Awards), reinforcing its position as a leading financier of large-scale infrastructure and construction initiatives across the Isles.
The award was presented during a weekend ceremony in Zanzibar, officiated by Ali Suleiman Amour, Chairman of the Zanzibar National Chamber of Commerce (ZNCC). The event brought together senior stakeholders from the construction sector, including representatives from government institutions and the private sector.
NBC was represented by Elvis Ndunguru, Director of Business and Investment Banking, who led a delegation of bank officials at the ceremony. Speaking after receiving the award, Ndunguru highlighted that the recognition reflects NBC’s ongoing commitment to supporting construction projects across both Mainland Tanzania and Zanzibar. He described it as a continuation of the bank’s recent successes in the sector.
Among the projects financed by NBC in Zanzibar, Ndunguru cited the newly inaugurated Maruhubi (Mpiga Duru) Ferry Passenger Terminal and the bank’s facilitation of the Kizimkazi Health Centre construction. On the Mainland, NBC continues to play a key role in financing strategic infrastructure projects, including railways, bridges, and airports. “The construction sector is a vital driver of national economic growth,” Ndunguru said. “We will continue working closely with the government and private sector to ensure successful delivery of priority projects while supporting key industry events.”
NBC was also a principal sponsor of the ZICA Awards, further underscoring its commitment to the growth and development of the construction industry.
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ZNCC Chairman Amour congratulated the award organizers, CSW Group and Zanzibar Marketing, as well as all the winners. He described the ZICA Awards as an important platform for promoting excellence, professional competitiveness, and accountability within the sector.
Amour emphasized the construction sector’s contribution to economic development through infrastructure, trade, tourism, housing, and investment. He urged both the Revolutionary Government of Zanzibar and the Government of the United Republic of Tanzania to strengthen cooperation, particularly in creating investor-friendly policies and regulatory frameworks.
He also called for enhancing the capacity of local professionals through training, technology, and access to capital, while maintaining strict standards in quality, safety, and environmental sustainability.
“For industry stakeholders, adherence to ethics, transparency, and the rule of law is essential to building trust with the public and government, the sector’s primary stakeholder,” Amour noted.
CSW Group Chief Operating Officer Annelise Nyangusi added that the awards selection process focused on service quality, market collaboration, and operational effectiveness. She thanked sponsors, including NBC, for their support, highlighting the bank’s role in advancing excellence in the construction industry.