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Tanzania’s Zanzibar Launches Program To Uplift Small Businesses

People prepare anchovies, locally called Dagaa, for drying at Mkokotoni village, Zanzibar. Local people use dagaa for preparing food as its much cheaper than other fish. Part of this fish is sold to the mainland to Tanzania, Kenia and Zambia. ( (Photo by Oleksandr Rupeta/NurPhoto via Getty Images))

 

Zanzibar President Hussein Ali Mwinyi on Thursday launched a program aimed at uplifting small businesses.

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Mwinyi launched the issuance of special identity cards (IDs) for identifying small traders and announced a 100 billion Tanzanian shillings (about 43.2 million U.S. dollars) package to support the small businesses.

 

He said the IDs will be used by the government in identifying the small traders and extending relevant support to them, including providing loans for their businesses.

 

Mwinyi said the government will release 50 billion Tanzanian shillings and commercial banks will allocate the same amount bringing to a total of 100 billion Tanzanian shillings for supporting entrepreneurial activities in Zanzibar.

 

“The funds will be used for identifying priority spending areas such as training, loans and marketing services.”

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Written by PH

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