From left: TanTrade Acting Deputy Director General Tahir Mussa; ZEEA Executive Director Juma Burhan; and Stanbic Head of Enterprise Banking Fatma Ahmed, during a press conference in Zanzibar yesterday to announce the partnership. PHOTO | COURTESY
Zanzibar. Stanbic Bank Tanzania has committed Sh200 million to support Fahari ya Zanzibar 2026, as the financial institution seeks to strengthen its support for entrepreneurs and businesses in the Isles.
The third edition of the festival will run from September 4 to 14 at Maisara Grounds in Zanzibar under the theme “Bidhaa Zetu Ndio Fahari Yetu” (Our Products Are Our Pride).
Organised by the Zanzibar Economic Empowerment Agency (ZEEA), the festival is expected to attract more than 15,000 visitors and 300 exhibitors, bringing together entrepreneurs, small and medium-sized enterprises, investors, financial institutions, government agencies and the public.
The festival will provide a platform for businesses to showcase locally produced goods and services, establish commercial connections and access financial and business development services.
The official launch on September 5 is expected to be officiated by Zanzibar President and Chairman of the Revolutionary Council, Dr Hussein Ali Mwinyi.
Stanbic Bank, which is a Platinum Sponsor, said it will use the festival to connect entrepreneurs with financial and business support services, including trade finance, guarantees, supply chain solutions, agribusiness financing, vehicle and asset finance and digital banking services.
The bank’s Stanbic Biashara Incubator will also provide entrepreneurs and SMEs with support in financial management, access to finance, business growth and market opportunities.
Stanbic Head of Enterprise Banking Fatma Ahmed said the partnership reflects the bank’s commitment to contributing to Zanzibar’s economic development.
“Fahari ya Zanzibar celebrates the entrepreneurs, businesses and locally produced goods that are contributing to Zanzibar’s growth. Our role goes beyond providing financial solutions. We want to help businesses build the knowledge, connections and capabilities they need to grow, compete and access new opportunities,” she said.
The festival will also feature programmes focusing on youth, innovation, tourism and arts, Made in Zanzibar products, business formalisation, community wellness and economic inclusion.
The sponsorship comes as Stanbic marks one year of operations in Zanzibar, where it says it has been working with individuals, entrepreneurs and businesses to support their participation in the wider Tanzanian, regional and international economy.
