Zanzibar’s debt set to soar to Sh4.6 trillion in five years, warns ACT-Wazalendo

Zanzibar’s debt set to soar to Sh4.6 trillion in five years, warns ACT-Wazalendo

Unguja. The opposition party ACT Wazalendo has raised concerns about Zanzibar’s escalating debt, predicting a potential surge of nearly 2400 percent following the unveiling of the 2024/2025 budget in June.

Reading the government budget speech on June 13, 2024, the Minister of Finance and Planning, Dr. Saada Mkuya, stated that government budget for the year 2024/25 was projected to reach Sh5.182 trillion, up from Sh2.840 trillion in 2023/24 marking a 121.3 percent jump.

Addressing supporters at a rally at Mchangani Grounds, the party’s National Chairman, Othman Masoud Othman, expressed alarm that Zanzibar’s budget of Sh5 trillion heavily relies on borrowing, potentially pushing the country’s debt to Sh4.6 trillion within five years.

“Our domestic revenue can only raise Sh1.5 trillion, leaving us to borrow the remaining Sh3.5 trillion,” he stated.

Masoud highlighted that this projection represents a 2400 percent increase from the Sh153 billion debt inherited by the current administration in 2020 from previous governments.

In June, the House of Representatives was informed that Zanzibar’s national debt, comprising loans acquired through the Government of the United Republic of Tanzania (SMT) and directly from foreign banks and development partners, had reached Sh1.105 trillion.

According to Deputy Minister of State, Office of the President, Finance, and Planning, Juma Makungu Juma, the Revolutionary Government of Zanzibar had secured six loans totaling Sh813.63 billion. Additionally, guarantees amounting to Sh185.73 billion were provided for 14 institutions.

Juma emphasized that these borrowings had significantly contributed to national development efforts, funding major projects.

 The accumulation of these loans has resulted in a substantial increase in the national debt, which stood at Sh1,105.09 billion as of March 2024, marking a 609.3 percent rise from 2020.

“Despite the growing debt, the government assures effective management of repayment. Strategies have been implemented to ensure timely repayment, with borrowing directed towards development projects aimed at enhancing national income,” he reassured.

Original Media Source

Share this news

Facebook
Twitter
LinkedIn
WhatsApp

This Year's Most Read News Stories

Tanzania Confirms Outbreak of Marburg Virus Disease
Tanzania Foreign Investment News
Chief Editor

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%.

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

Continue Reading

Muslims in Pemba conduct special prayer against ZAA decision
Popular
Investment News Editor

Muslims in Pemba conduct special prayer against ZAA decision

ZANZIBAR: More than 200 Muslims in Vitongoji Village, South Pemba Region over the weekend conducted a special prayer to condemn the Zanzibar Airports Authority (ZAA) move to appoint DNATA as the sole ground handler in Terminal III of the International Airport of Zanzibar. Abeid Amani Karume.Continue Reading