Dar es Salaam, Feb. 14 -- ZANZIBAR: THE Zanzibar government has announced new strategies to protect citizens from predatory loan sharks who charge exorbitant interest rates, commonly known as “kausha damu” loans (literally, “blood-draining” loans).

Minister of State in the Presidents Office (Labour, Economy and Investment), Sharif Ali Sharif, outlined these measures during a question-and-answer session in the House of Representatives.

He said the measures being implemented through the Zanzibar Economic Empowerment Agency (ZEEA) to provide more favourable alternatives to high-interest micro loans.

The Minister said that one of the key initiatives includes the establishment of the Economic Empowerment Fund, which ...