Z’bar to cooperate with new entrant in digital payment

ZANZIBAR : THE Zanzibar government has assured the Airpay Tanzania Company of cooperation in its endeavour to drive digital financial services.

A week ago, the Bank of Tanzania (BoT) issued a license to the company, which is a subsidiary of India’s integrated financial services platform, to start offering digital financial services.

The Airpay, which is based in Zanzibar, said that it will conduct its activities professionally.

On Wednesday, the BoT branch in Zanzibar officially handed over the license to the company, which is also based in the Isles.

The handing-over ceremony went along with the official opening of the company’s office. The event was graced by the Zanzibar Minister of State in the President’s Office responsible for economy and investment, Mr Mudrick Ramadhan Soraga.

Mr Soraga pledged that the government will continue to support the company because it has come up with advanced technology that will bring reforms in digital financial services.

“This company is experienced in business, we will give it cooperation so that more citizens can access services, particularly small entrepreneurs,” he said.

He hailed the company for deciding to invest in Zanzibar, saying the move would be a catalyst for attracting more investors to invest in the Information, Communications and Technology (ICT) sector in the Isles.

Commenting, the Commissioner for Public Private Partnership (PPP) department in Zanzibar, Dr Bili Mrima Kiwia, said they support the company because it would add efficiency in the provision of digital financial services to the citizens.

The Airpay founder, Mr Kunal Jhunjhunwala, said they aim to offer quality services in Tanzania mainland and Zanzibar.

“Zanzibar is an ideal partner in formalizing digital systems; we have been attracted to invest. We are organized to ensure that the services are of high quality,” he assured.

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