Africa-Press – Tanzania. THE Minister of Blue Economy and Fisheries of the Revolutionary Government of Zanzibar, Dr Abdallah Hussein Kombo, has called upon Zanzibaris to have high level of discipline in the use of loans.
He said if the loans are used for the intended purposes they will be able to repay back well and increase their confidence to be lent again and increase their business sustenance.
The Minister made the remarks over the weekend in Marumbi Central District Unguja while addressing the people of six tiny islands in Zanzibar, when the bank met them to devise strategies on how to assist them in their business development activities and life in general.
“NMB has provided loans to fishermen and seaweed farmers in the villages, hence, they should take advantage of the blue economy and be able to grow economically and bring development to the country,” said Dr Kombo, while commending the bank’s leadership for supporting the government’s efforts to reform Zanzibar’s blue economy.
“I urge the public to appreciate the efforts of NMB bank by making sure that all become well prepared to receive the loans and use them as intended, because in doing so they will build trust in NMB to further help them. “The Revolutionary Government of Zanzibar is committed to economic reform by enabling its vulnerable people to be self-sufficient, so the step taken by the NMB will largely help achieve the government’s goals,” he added.
The Minister further noted that the government will continue to work with the bank to see into it that the goals are achieved, while asking the financial institution to consider also other projects in helping rural people.
“NMB has said it is ready to lend to the people so that they can fully participate in the blue economy whose development is one of the key agendas of the government of President Hussein Ali Mwinyi,” said the minister.
At a meeting held at Marumbi School, NMB’s Senior Business Unit Manager, Wogofya Msalamagoha said they would support the government to ensure that its goal is achieved.
“In support of the government on the whole issue of the blue economy, the NMB has seen fit to empower seaweed farmers and fishermen by providing them with a loan to bring about development through that opportunity. “NMB will assist in providing cash loans as well as the various equipment and inputs required in achieving the whole issue of fishing and seaweed farming which will be repaid immediately after harvesting and selling,” Msalamagoha said.
NMB Manager for Zanzibar, Abdallah Duchi, said the bank is well-organised to help address the challenges of fishermen and seaweed farmers so that they can fully contribute to the development of the country.
Commenting on the new opportunity, Mlenge Khatib, a fisherman from Chwaka village, thanked NMB for giving them high hopes of economic growth through the lending which will be accompanied by the search for markets to sell their products.
Mlenge said the biggest challenge in seaweed fishing is the lack of markets which in turn leads to lowering of seaweed prices.
