Zanzibar’s President Dr. Hussein Mwinyi attended the second edition of the ‘Fahari ya Zanzibar’ festival on Friday, highlighting significant progress in reducing unemployment over the past three years.
At the festival’s opening in Zanzibar’s new international trade fair area in Nyamanzi, Unguja West B District, he cited recent data from the Zanzibar Economic Empowerment Agency (ZEEA) indicating that many young people are finding employment.
He noted that the success since ZEEA’s establishment in 2022 aligns with last year’s festival theme, “Empower the Citizens, Create Jobs by Strengthening the Sustainable Economy,” and supports the objectives outlined in the Chama Cha Mapinduzi (CCM) 2020/2025 election manifesto.
Statistics show that employment in the formal sector has risen to 62.9%, with the informal sector contributing 37.1%. This underscores the informal sector’s role in job creation and sustainable economic growth.
The President mentioned improvements in infrastructure and the construction of modern market centers in urban and rural areas to support entrepreneurs. He also stated that initiatives to provide loans to small business owners are underway, alongside enhancements to the ten percent economic empowerment formula for better execution.
This formula allocates local government revenue—4% for women, 4% for youth, and 2% for people with disabilities—creating further job opportunities.
He highlighted the importance of collaboration among government institutions, private organizations, financial institutions, NGOs, and international bodies to address employment challenges.
Dr. Mwinyi announced plans to launch a ‘Loan Management System’ to streamline loan applications, developed in partnership with Air-pay, Zanzibar e-Government (E-Gaz), and the Presidential Delivery Bureau (PDB).
This year’s festival theme, “Digitalisation of economic empowerment in Zanzibar,” emphasizes the transition from traditional methods to digital systems to enhance efficiency.