The Zanzibar Economic Empowerment Agency (ZEEA) has unveiled a digital loan system aimed at streamlining financial access for women, youth, and individuals with disabilities. Set to commence operations on April 15, 2025, the platform is designed to replace traditional application methods with a faster, more transparent, and secure online process.
Shariff Ali Shariff, Minister of State in the President’s Office for Labour, Economy, and Investment, highlighted the system’s key features:
• Instant Application Feedback: Applicants will receive prompt responses, reducing waiting periods associated with loan approvals.
• Secure Digital Repayments: Repayments will be facilitated through the Tanzania Commercial Bank (TCB), ensuring a secure transaction process.
• Real-Time Application Tracking: Users can monitor the status of their applications online, enhancing transparency.
• Elimination of In-Person Visits: The entirely digital process negates the need for physical visits to loan offices.
Minister Shariff emphasized that this initiative marks a significant advancement in providing easy financial access to special groups, enabling them to initiate or expand their businesses without unnecessary delays.
Juma Burhan, ZEEA’s Chief Executive Officer, noted that the system aims to address previous challenges in loan disbursement and repayment processes. He added that the platform would facilitate loan disbursement within a maximum of 14 days, with some loans processed in as little as 24 hours.
The digital loan system is a collaborative effort involving ZEEA, Airpay—a leading payment gateway solutions provider—and TCB. This partnership seeks to enhance efficiency and transparency in loan disbursement, contributing to the economic empowerment of Zanzibar’s entrepreneurs.
