‘Come for large fishing, seaweed farming boats loans’

ENTREPRENEURS in need of large fishing boats were on Thursday invited to consult the blue economy and fisheries ministry for loans.

Blue Economy and Fishery Minister Suleiman Masoud Makame told the House of Representatives that the government is ready to provide loans for large fishing and seaweed farming boats but subject to specifications by the borrowers themselves.

“We want needy entrepreneurs to come and provide their specifications but we haven’t received a single person—let them come, if they are there,” Minister Suleiman said in response to a supplementary question by Wingwi Representative Kombo Mwinyi Shehe, who wanted to know government keenness to give loans for deep sea fishing boats.

Answering the main question, the minister said as of December 2022, the government had distributed 107 fishing and seaweed farming boats, with recipients in Unguja and Pemba getting 30 and 77 vessels, respectively.

He said loan repayment has not started due to delays in preparation of the business model, which has just been signed between the ministry and CRDB Bank.

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