Mwinyi advocates for supportive system to nurture emerging businesses
ZANZIBAR: ZANZIBAR President, Hussein Mwinyi has called for the establishment of a supportive system to foster the growth of emerging businesses in Zanzibar, aiming to enhance individual well-being and strengthen the national economy.
Dr Mwinyi made this call during his speech at the third joint conference on “Embracing Technology and Innovation for Catalysing a Vibrant Startup Ecosystem in Zanzibar,” held yesterday at the Madinat al Bahri Hotel in Unguja West B District. The event was organised by the Zanzibar Research Centre for Socio-Economic and Policy Analysis (ZRCP).
In his address, Dr Mwinyi emphasised the need to support Zanzibar’s talented young entrepreneurs, who are making significant strides in various business sectors.
He stressed the importance of creating a nurturing environment that allows these businesses to thrive and contribute to the country’s integrated and sustainable economic vision.
“We must provide a conducive environment to help these businesses grow profitably and enable young entrepreneurs to develop their talents for the benefit of our nation,” Dr Mwinyi said. The conference was attended by senior government officials and private sector representatives.
The president noted that several countries, including the Netherlands, India, South Korea and various African nations such as Kenya, Tunisia, South Africa and Nigeria, have established effective systems for emerging businesses.
These systems have successfully addressed economic and social challenges, improved economies and created jobs.
Dr Mwinyi directed coordinating institutions to lead discussions on strategies to support business growth and enhance economic development.
He assured stakeholders of the government’s commitment to creating a better working environment for institutions to foster efficiency, support career development for young people, and encourage innovation.
Additionally, Dr Mwinyi instructed government institutions to implement existing policies and guidelines while introducing new ones to promote talent through innovation and technological creativity.
Minister of State in the President’s Office (Finance and Planning), Dr Saada Mkuya Salum, explained that the ZRCP’s research aims to drive the government’s goals and facilitate substantial reforms based on scientific and technological advancements.
She emphasised the importance of effectively utilising research results, particularly as Zanzibar aims to establish a capital market.
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ZRCP Executive Director, Mr Juma Hassan Reli reiterated the centre’s commitment to maintaining its status as a leading institution providing high-quality research for the East African region.
He assured the government of the centre’s dedication to professional, honest and ethical collaboration.
The two-day conference brought together stakeholders from various public and private institutions, development partners and international organizations.
The goal was to explore and discuss the best ways to leverage technology and research to address new challenges and support the development of emerging entrepreneurs.
