CRDB Bank, in partnership with French public investment bank Bpifrance, has signed a financing agreement with the Revolutionary Government of Zanzibar (RGoZ) worth EUR 37.5 million (approximately 115bn/-) for the establishment of the Land Administration and Registration Information System (LARIS).
The facility aims to address long-standing challenges in land management, particularly disputes among landowners. CRDB Bank is contributing EUR 7.949 million, while Bpifrance provides EUR 29.55 million.
Speaking at the signing ceremony at the Zanzibar State House, Dr. Hussein Ali Mwinyi, President of Zanzibar and Chairman of the Revolutionary Council, highlighted the centrality of land as a resource for national development.
He said the support will heighten government’s vision to improve the management and economic value of land.
“Through the implementation of the LARIS system, ownership and land management information will be easily accessible, eliminating border disputes and other land-use challenges,” President Mwinyi said.
He further emphasized that digitizing land records will empower citizens to leverage land as collateral to access loans from banks and other financial institutions, facilitating investment in projects and businesses, and accelerating inclusive development.
“This system will speed up the issuance of land titles and end encroachment on public and investment areas. I urge all Zanzibaris to embrace the opportunities that will arise from this system and prepare to benefit economically from formalized land ownership,” President Mwinyi added.
Khadija Khamis Rajab, Zanzibar’s Permanent Secretary, ministry of Lands, noted that LARIS will strengthen the Government’s ability to identify landowners across the islands, enhancing efficiency in land tax collection and administration.
“Once operational, land tax revenues are expected to increase significantly at both municipal and national levels. The Ministry will be able to track payments and remind owners who have defaulted, ensuring that all due revenues are collected,” she explained.
CRDB Bank, Group CEO’s Abdulmajid M. Nsekela said the system will transform Zanzibar’s land sector by creating a robust digital framework for land management and ownership. He emphasized that land formalization will boost confidence among financial institutions, unlocking new financial and economic opportunities for citizens.
“This initiative will improve citizens’ welfare through better access to financial services, stimulate investments, and promote an inclusive economy that benefits all Zanzibaris,” Nsekela stated.
He also highlighted that Bpifrance’s participation demonstrates strong international confidence in Zanzibar and CRDB Bank’s capability to manage strategic national projects.
CRDB Bank’s 2023–2027 medium-term business strategy prioritizes partnerships with global financial institutions to fund major development projects in Tanzania and the wider region.
Through such collaborations, the Bank has supported landmark projects including the Julius Nyerere Hydropower Project (JNHPP) and the Standard Gauge Railway (SGR). In Zanzibar alone, the Bank has invested TZS 484 billion in infrastructure projects including roads, modern schools, and the Pemba Airport.
Nsekela also highlighted CRDB Bank’s innovative financing products, such as the Green Bond and the Samia Infrastructure Bond, which together raised over 494bn/- for sustainable infrastructure in partnership with TARURA.
The Bank’s CRDB Al Barakah Sukuk, an Islamic finance-compliant bond, raised 125.4bn/- and USD 32.3 million for development in sectors including entrepreneurship, agriculture, fisheries, education, health, and tourism.
Bpifrance’s Vice President – Structured Export Finance Alienor Daugreilh affirmed the bank’s commitment to supporting Zanzibar’s development.
“This is just the beginning. Bpifrance will continue to collaborate with the Revolutionary Government of Zanzibar to support its development agenda. Together with our strategic partner, CRDB Bank, I believe we can achieve many great things for the benefit of the people of Zanzibar and Tanzania as a whole,” Daugreilh said.
