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🇹🇿 Tanzania /Economy & Trade

ZEEA and Stanbic to empower Zanzibar entrepreneurs

From Mwananchi · () Swahili

Translated from Swahili and summarized by DistantNews. Read the original for the full story.

At a glance

News Named sources New plan
  • Stanbic Bank Tanzania and the Zanzibar Economic Empowerment Agency signed a five-year agreement to support entrepreneurs in Unguja and Pemba.
  • The partnership will connect eligible businesses with financial services, financial management training, digital services, business advice and market opportunities.
  • Stanbic said the program aims to help entrepreneurs turn ideas and existing capabilities into businesses that can grow and compete.

Zanzibar entrepreneurs are being offered a five-year route to more capital, financial education and market opportunities through an agreement between Stanbic Bank Tanzania and the Zanzibar Economic Empowerment Agency, known as ZEEA.

The partnership will link entrepreneurs in Unguja and Pemba with financial services, financial management training, digital tools, business advice and opportunities to reach markets. The agreement was signed on Saturday, September 5, during the launch of the 2026 Fahari ya Zanzibar exhibition at Mnazi Mmoja grounds. Zanzibar’s Second Vice President, Hemed Suleiman Abdullah, witnessed the ceremony.

Fredrick Max, Stanbic’s head of business, said the aim was to help entrepreneurs turn their ideas and abilities into businesses capable of growing and competing in the market. He said entrepreneurs faced more than a shortage of ideas. They also needed capital, business knowledge, technology and access to markets.

Zanzibar does not lack entrepreneurs, ideas or determination, but the opportunity now is to help more businesses turn that potential into real growth.

· Fredrick MaxStanbic’s head of business described the purpose of the partnership after the agreement was signed.

“Zanzibar does not lack entrepreneurs, ideas or determination, but the opportunity now is to help more businesses turn that potential into real growth,” Max said. Entrepreneurs who meet the requirements will be connected with Stanbic programs, including the Stanbic Biashara Incubator, which offers advice and practical support to businesses seeking to expand.

The agreement comes a year after Stanbic began offering services in Zanzibar. Max said the bank viewed the islands as home and wanted to invest in their people, businesses and long-term economic capacity. Fahari ya Zanzibar is a national business exhibition designed to connect Zanzibar products and businesses with customers, buyers, financial institutions, investors and business-development partners. This year’s exhibition is expected to attract more than 15,000 visitors and over 300 exhibitors.

A year since we began our journey here, Zanzibar is our home.

· Fredrick MaxMax explained Stanbic’s commitment to investing in Zanzibar’s people and businesses.
About this summary

Originally published by Mwananchi in Swahili. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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