Tanzania, April 21 -- Dar es Salaam. The Zanzibar government has moved to reduce reliance on bank borrowing by partnering with the Dar es Salaam Stock Exchange (DSE) to expand access to capital markets.

A three-year Memorandum of Understanding (MoU) signed between the DSE and the Zanzibar Treasury Registrar is expected to unlock new financing avenues for at least 17 state-linked institutions, according to the government.

The initiative seeks to shift public entities away from traditional bank loans towards market-based financing instruments, including stock market listings and other investor-driven options.

Treasury Registrar Waheed Muhammad Sanya said many public institutions in Zanzibar currently depend heavily on bank credit, which ...