Unguja. The People’s Bank of Zanzibar (PBZ) said at the weekend that investors should expect a seamless process in collecting funds for the newly introduced Sukuk bond.
A statement by the PBZ managing Director, Mr Arafat Haji , followed the launch of the Sharia-compliant Sukuk bond by the Revolutionary Government of Zanzibar last week.
“PBZ is committed to ensuring a seamless, transparent and customer-friendly investment process,” Mr Haji told journalists.
Investors can participate in Sukuk through PBZ branches and digital platforms, ensuring accessibility from anywhere. Sukuk bond offers an attractive return rate of 10.5 percent per annum.
“The bank’s dedicated Islamic banking division, PBZ Ikhlas, offers professional advisory services to guide customers through the investment process. In line with our slogan – The People’s Bank, The People’s Choice – we also guarantee a straightforward and efficient investment process, ensuring timely collection and allocation of funds while upholding the highest standards of compliance with Islamic banking principles,” he said.
Mr Haji said that PBZ takes pride in being a trusted financial partner in Zanzibar’s economic growth, providing customers with an unparalleled opportunity to earn lucrative returns while contributing to national development.
“PBZ invites all customers to take advantage of this opportunity and become part of Zanzibar’s economic transformation,” he added.
The government is leveraging the Sukuk bond to mobilise funds for development projects on the island. The initiative aims to expand financing options beyond traditional loans, according to the minister of State in the President’s Office (Finance and Planning), Dr Saada Mkuya.
Speaking at the Sukuk Bond Board in Zanzibar last week, Dr Mkuya said the introduction of the bond would provide a broader platform for the government to secure funding for key infrastructure projects.
“The funds raised through this bond will be invested in projects that comply with Sharia principles, ensuring accountability and transparency in financial management,” Dr Mkuya said.
As the official collecting bank for the Sukuk investment initiative, launched under the Treasury of the Revolutionary Government of Zanzibar, PBZ plays a pivotal role in supporting the country’s development efforts.
“This initiative offers an exciting and secure opportunity for individuals and institutions to invest in government-backed projects while adhering to Sharia principles,” said Mr Haji.
“By investing in Sukuk through PBZ, customers contribute to the development of key government projects, fostering economic growth and financial inclusion. Investors can expect competitive returns on their funds while supporting strategic national initiatives in infrastructure, energy, and social development.”
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Tanzania Confirms Outbreak of Marburg Virus Disease
Dodoma — Tanzania today confirmed an outbreak of Marburg virus disease in the northwestern Kagera region after one case tested positive for the virus following investigations and laboratory analysis of suspected cases of the disease.
President of the Republic of Tanzania, Her Excellency Samia Suluhu Hassan, made the announcement during a press briefing alongside World Health Organization (WHO) Director-General, Dr Tedros Adhanom Ghebreyesus, in the country’s administrative capital Dodoma.
“Laboratory tests conducted in Kabaile Mobile Laboratory in Kagera and later confirmed in Dar es Salaam identified one patient as being infected with the Marburg virus. Fortunately, the remaining suspected patients tested negative,” the president said. “We have demonstrated in the past our ability to contain a similar outbreak and are determined to do the same this time around.”
A total of 25 suspected cases have been reported as of 20 January 2025, all of whom have tested negative and are currently under close follow-up, the president said. The cases have been reported in Biharamulo and Muleba districts in Kagera.
“We have resolved to reassure the general public in Tanzania and the international community as a whole of our collective determination to address the global health challenges, including the Marburg virus disease,” said H.E President Hassan.
WHO is supporting Tanzanian health authorities to enhance key outbreak control measures including disease surveillance, testing, treatment, infection prevention and control, case management, as well as increasing public awareness among communities to prevent further spread of the virus.
“WHO, working with its partners, is committed to supporting the government of Tanzania to bring the outbreak under control as soon as possible, and to build a healthier, safer, fairer future for all the people of Tanzania,” said Dr Tedros. “Now is a time for collaboration, and commitment, to protecting the health of all people in Tanzania, and the region, from the risks posed by this disease.”
Marburg virus disease is highly virulent and causes haemorrhagic fever. It belongs to the same family as the virus that causes Ebola virus disease. Illness caused by Marburg virus begins abruptly. Patients present with high fever, severe headache and severe malaise. They may develop severe haemorrhagic symptoms within seven days.
“The declaration by the president and the measures being taken by the government are crucial in addressing the threat of this disease at the local and national levels as well as preventing potential cross-border spread,” said Dr Matshidiso Moeti, WHO Regional Director for Africa. “Our priority is to support the government to rapidly scale up measures to effectively respond to this outbreak and safeguard the health of the population,”
Tanzania previously reported an outbreak of Marburg in March 2023 – the country’s first – in Kagera region, in which a total of nine cases (eight confirmed and one probable) and six deaths were reported, with a case fatality ratio of 67%.
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In the African region, previous outbreaks and sporadic cases have been reported in Angola, the Democratic Republic of the Congo, Ghana, Kenya, Equatorial Guinea, Rwanda, South Africa and Uganda.
Marburg virus is transmitted to people from fruit bats and spreads among humans through direct contact with the bodily fluids of infected people, surfaces and materials. Although several promising candidate medical countermeasures are currently undergoing clinical trials, there is no licensed treatment or vaccine for effective management or prevention of Marburg virus disease. However, early access to treatment and supportive care – rehydration with oral or intravenous fluids – and treatment of specific symptoms, improve survival.
Source: allafrica.com
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