Latest stories tagged “Zanzibar”
The Zanzibar Revenue Authority (ZRA) reported a revenue collection of over 1.215 trillion Tanzanian shillings in the 2025/26 financial year, marking a 41 percent increase from the previous year. This growth is attributed to improved economic activity and stronger tax administration. The ZRA achieved 96.7 percent of its revenue target of 1.257 trillion shillings during the period from July 2025 to June 2026.
In the latest TechCabal Daily, it is reported that Monzo is expanding its operations into Nigeria. Additionally, Mauritius' largest bank is looking to enter the Côte d'Ivoire market, Zanzibar has signed a $114 million deal for fiber infrastructure, and Daya has raised $2.4 million to support stablecoin payments.
Zanzibar has approved a budget of TZS 8.52 trillion (approximately USD 3.28 billion) for the 2026/27 fiscal year, marking a 22.11% increase. The budget aims for a 7.5% GDP growth while reducing reliance on external financing to 2.8%. Key sectors for investment include tourism, agriculture, fisheries, small and medium enterprises, and the blue economy. Measures to attract investors include the upcoming launch of a stock exchange and tax incentives for manufacturers and commercial vehicles.