ZANZIBAR: Airpay Tanzania, a newly licensed digital payment services company, yesterday officially launched its digital payment system in Zanzibar
The launching event was graced by the Zanzibar Minister of State in the President’s Office (Finance and Planning), Ms Saada Salum Mkuya, who expressed her optimism that the service will enhance trade.
“The system will boost the country’s economy considering that the Zanzibar government implements the blue economy policy and works hard to put in place a friendly environment for investment,” she said, who represented Isles’ President Hussein Mwinyi.
She said the Airpay digital system will enable reducing the use of cash in the market.
Also, the system will help small entrepreneurs use digital systems for payment as well as boost financial safety.
She also said a decision to establish a centre of technology in the country, will facilitate the growth of the economy in both Zanzibar and Tanzania mainland.
Speaking about the country’s digital economy agenda, she reminded the public to use the e-Government systems to avoid financial challenges.
Zanzibar Minister of State in the President’s Office (Labour, Economy, and Investments), Mr Mudrik Ramadhan Soraga, said the new system will contribute to economic growth and simplify the collection of revenues.
“In the Isles, over 70 per cent of traders are still not formalised, so there is no official statistics on their contribution to the national revenues,” he said.
Zanzibar Minister for Trade and Industry, Mr Omar Said Shabani, said the Airpay system will facilitate an enabling environment for traders to receive payments.
Isles’ Commissioner for the Public-Private Partnership (PPP), Dr Bili Kiwia, said that the system will help in formalising entrepreneurs and make them trade digitally.
On his part, Co-founder of Airpay Tanzania, Mr Yasmin Chali, said they decided to invest in Zanzibar because of its efforts in improving trade and investment.
Another co-founder, Mr Kunal Jhunjhunwala stated:” we aim to reach out to ordinary citizens and we have seen Zanzibar as the right place to invest.”