ZEEA issues digital loans to economically empower citizens
ZANZIBAR: THE Zanzibar Economic Empowerment Agency (ZEEA) has started issuing digital loans with the aim of helping citizens access funds promptly to grow their businesses and improve their economic well-being.
As this initiative rolls out, officers handling loan applications under the Special Groups Fund (4-4-2) in Pemba have been urged to exercise caution when introducing the online loan application system.
These remarks were made by ZEEA Loan Officer Suleiman Ali Hamad during a training session for municipal officers, council leaders, group representatives, youth officers, persons with disabilities officers, and officers from the women and children’s departments in Gombani, Pemba.
Mr Hamad stated that the entire loan application process will now be conducted online, replacing the traditional paper-based system, thereby simplifying access to funds for citizens.
“Digital loan disbursement has already begun. Today, participants are being trained to ensure they can successfully navigate the online loan application process. We believe those attending the training will pass on this knowledge to others,” he said.
The ZEEA Coordinator for Pemba, Mr Haji Mohamed Haji, explained that one of the conditions for applying for these loans online is that the group must be registered, and applicants must possess a Zanzibar ID card.
ALSO READ: Govt fetches 521bn/- from minerals in six months
Savings and Loans Officer from the Pemba Department of Cooperative Development, Ms Zuwena Abdalla Suleiman, emphasized the importance of group leaders meeting the required qualifications.
“If any group leader is found to lack the necessary qualifications, the group must amend its constitution to replace that leader. This is why we have been providing education to ensure every individual meets all criteria, including holding a valid Zanzibar resident ID card,” she said.
Mr Majid Makilla, an Inclusive Finance Officer from Airpay Tanzania, stated that their company has developed a loan disbursement system for ZEEA to ensure that it operates seamlessly and allows applicants to complete their requests on time.
He added that they are committed to training Zanzibaris on how to use the new digital system.
“We will create a video demonstrating the entire process, from the first step to the final step, to guide users on how to apply for loans through this system,” he said.
Meanwhile, Loan and Sales Officer from the National Commercial Bank (TCB), Mr Khamis Juma Khamis, highlighted that the digital system will enhance transparency and is a valuable opportunity for citizens to secure loans to grow their businesses.
“In collaboration with ZEEA and Airpay, we are committed to ensuring loans are disbursed in a timely manner. This is a vital opportunity, as the government has prepared this initiative to support citizens and drive development in our country,” he said.
