The President of Zanzibar and Chairman of the Revolutionary Council, Dr. Hussein Ali Mwinyi, speaking about the challenges facing the youth, has urged KCB Bank Tanzania through the Community Repayment Program to collaborate with the Ministry of Youth, Employment and Empowerment to find better and sustainable ways to benefit the youth, especially in terms of facilitating loans for the youth to be self-employed.
President Dr. Mwinyi said this on March 05, 2026, when he met with the Managing Director of the Bank of Tanzania, Mr. Cosmas Kimario and the Chairman of the Board, Ambassador Peter Kallaghe, accompanied by senior executives of the institution who arrived at the State House, Zanzibar.
President Dr. Mwinyi has advised KCB Bank Tanzania to consider the possibility of collaborating with the Revolutionary Government of Zanzibar to obtain loans for the implementation of major development projects.
He said that major strategic projects for the construction of ports, airports and road infrastructure require a lot of money to be completed on time, so he has stressed to KCB to pay importance to the issue for the development of Zanzibar.
He has assured the bank that the Revolutionary Government of Zanzibar has set a strict plan for the payment of the money it borrows through a special account to pay loans used in the implementation of development projects.
The Managing Director of KCB Tanzania, Mr. Cosmas Kimario, said the existence of a favorable investment environment in Zanzibar, the construction of infrastructure and the focus on the blue economy and tourism sectors that attract many investors to the country has prompted the bank to increase its capital for Zanzibar and they are ready to cooperate with the Revolutionary Government of Zanzibar.
