THE Zanzibar Economic Empowerment Agency (ZEEA) has eased access to capital for small entrepreneurs while repayment processes have improved, the government has declared.

President Dr Hussein Ali Mwinyi made this observation at an event to open the Nyamanzi Trade Grounds festival in the populous Urban West Region yesterday, noting that the training of entrepreneurs and connecting them with local and international markets was part of these efforts.

A programme intended for an entrepreneur uplift programme for which the government initially allocated 15bn/- had through effective monitoring allowed for loans of up to 30.2bn/- on a revolving fund basis, he stated.

"ZEEA has been instrumental in designing various projects aimed at economically empowering citizens,” he said, pointing at information that ZEEA is set to implement a joint project valued at 13bn/- funded by the World Bank, where the Social Welfare, Gender, Elderly and Children ministry is closely involved.

Yasim Chali, CEO of Air Pay (T), one of the festival sponsors, announced a collaboration with ZEEA to introduce a digital loan application format enabling entrepreneurs to access loans without paperwork.

"The digital loan application process has greatly benefited many entrepreneurs, enabling them to grow their businesses and increase incomes," he said, with ZEEA executive director Juma Burhani underlining the agency's commitment to empowering people economically and reducing poverty.

As of August 31 ZEEA had issued loans worth 33.1bn/- to entrepreneurs, achieving 72 percent of targeted issuance, he said, pointing at the informal sector as pivotal in job creation.

The president similarly affirmed that the government has constructed markets in all Unguja and Pemba districts, with ongoing efforts to complete major markets in the

"I have also been informed that steps to provide loans to businesses for capital expansion have been initiated," he said, reiterating government intentions for allocating 10 percent of local government revenues for loans.

The breakdown is four percent for women, four percent for the youth, and two percent for people with disabilities, he said, noting that despite initial delays due to the need for a robust banking format for its administration, several groups have already benefited from loans provided through Tanzania Commercial Bank (TCB), formerly the postal savings bank.

This initiative chiefly aims at economically empowering citizens, enabling self-employment and their being capable of creating jobs for others, he said, underlining the need to further enhance economic empowerment.

The government is implementing development projects, including the construction of urban and rural roads, thus improving transportation and market access, he said, pointing at how these projects have attracted both domestic and foreign investors, thus boosting the tourism sector.

The sector plays a crucial role in job creation, especially for the youth, and has provided a stable market for products by local entrepreneurs, he added.