Arusha. The Court of Appeal has overturned a High Court Commercial Division decision ordering Exim Bank (Tanzania) Limited to pay more than $11 million to M & Five B Hotel and Tours Limited, ruling that the dispute had already been conclusively determined in an earlier case.
The judgment was delivered in Dar es Salaam on May 12, 2026, by a panel of Justices Dr Gerald Ndika, Zainab Muruke, and Agness Mgeyekwa, before a copy was later uploaded to the court’s website.
The appellate court agreed with Exim Bank’s submissions that the suit was barred by the doctrine of res judicata, which prevents courts from rehearing matters already conclusively determined.
Earlier, the High Court Commercial Division had ruled in favour of M & Five B Hotel and Tours Limited and ordered Exim Bank to pay special damages exceeding $11 million, punitive damages of $1 million, interest, and costs.
The High Court found that the bank had acted negligently by failing to verify signatures and authenticate payment instructions issued on the company’s accounts, resulting in unauthorised withdrawals.
