Tanzania Commercial Bank (TCB) is reinforcing its role
as a key partner in Zanzibar's development by providing loans to benefit women,
youth, and special groups involved in economic activities on the islands.
This initiative shows TCB’s commitment to economic
growth, job creation, and financial inclusion, especially in supporting
Zanzibar’s blue economy.
During the Kizimkazi Festival, TCB's Managing
Director, Mr. Adam Mihayo, highlighted the bank’s dedication to empowering
Zanzibaris.
“TCB has already disbursed TZS 151 million out of the
TZS 300 million allocated to help entrepreneurs. The goal is to reach 70 groups
with these loans,” he noted.
Mr. Mihayo said the initiative is part of TCB’s
broader mission to support the Revolutionary Government of Zanzibar’s
priorities.
“The bank understands that a strong financial system
is essential for a thriving economy,” he insisted.
In addition to providing loans, TCB is also focusing
on the blue economy, particularly seaweed farming.
“The bank recognizes the importance of seaweed to the
local economy and is committed to giving farmers affordable loans to help them
succeed. This support will improve their livelihoods and contribute to
Zanzibar’s overall economic development,” Mr. Mihayo explained.
Mr. Mihayo encouraged other stakeholders to continue
working together to build the economy of Zanzibar and Tanzania as a whole.
He emphasized that TCB is dedicated to offering
affordable products and services to everyone, playing a crucial role in the
nation’s economic progress.
