PRESIDENT Ali Mohamed Shein has said that his government will continue supporting cooperatives and entrepreneurs for economical development.
"Economic and social development can be achieved through serious entrepreneurs and cooperatives," said Shein in his speech at the closing "week of empowerment" held at Bwawani Hotel in Zanzibar.
He said at the gathering which attracted many entrepreneurs and members of cooperatives from Unguja and Pemba Islands, that through had working under organized management in small business, Zanzibar can move faster in overcoming its economical and social challenges.
He emphasized that small businesses have been playing a significant role in promoting economic growth in the Islands, urging women and youths to be creative and avoid idleness. "I am pleased with the development of the entrepreneurs, and the government is committed to continue supporting the private sector to be more productive," the president said amid cheers.
He said entrepreneurs will continue getting loans or grants, and that all small business groups should not get worried of missing financial support, that some people have started to contribute to recently established Zakah fund. The president encouraged on self reliance by being creative and work in entrepreneurs "using available resources and materials.
The aim is to reduce poverty and donor dependence." Ms Asha Ali Abdallah- Principal Secretary (PS) in the Ministry of Economical Empowerment said that "week of empowerment" is important as Zanzibar started to observe the week in 2011. She said her ministry has given out loans amounting to 143m/- to entrepreneurs and also that the business persons have benefited from about 62.9m/- from the JK and AK revolving loan funds.
Asha said that five SACCOS have been established, alongside improving 11 existing SACCOS which have managed to loan its members about 303.7m/-. Meanwhile the WAKF commissioner executive director Sheikh Abdallah Talib has said that people have contributed 500m/- for Zakah fund.