The NORAD-FINE Project aims to empower 200 entrepreneurs in Zanzibar's marine sector with financial skills and sustainable business practices.
ZANZIBAR, Tanzania – July 17, 2026 – Equity Bank Tanzania Limited has successfully concluded a two-day Blue Economy and Financial Literacy Training in Zanzibar, equipping 200 entrepreneurs, including seaweed farmers and fishers, with practical knowledge to strengthen their businesses, improve financial management, and promote sustainable marine-based livelihoods.
Held on 16–17 July 2026, the training forms part of the NORAD-FINE Project, a strategic partnership between the Equity Group Foundation and the Norwegian Agency for Development Cooperation (NORAD). The initiative seeks to expand access to financial services for Small and Medium Enterprises (SMEs) operating in the blue economy, marine waste management, renewable energy, and clean cooking sectors.
BUILDING STRONGER BLUE ECONOMY BUSINESSES
The training focused on empowering participants with the financial and technical skills needed to grow sustainable businesses while protecting Zanzibar's rich marine ecosystems.
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Participants received practical guidance on:
- Financial management and business planning
- Budgeting and savings
- Responsible borrowing
- Modern seaweed farming techniques
- Climate-smart farming practices
- Reducing post-harvest losses
- Value addition through seaweed processing
The programme brought together government leaders, financial experts, marine conservation specialists, and development partners committed to strengthening Zanzibar's blue economy.
OFFICIAL OPENING
The event began with welcoming remarks from Ms. Hellen Dalali, Head of Sustainability at Equity Bank Tanzania, before being officially opened by Ms. Siti Abas Ali, Director of the Department of Community Development, Gender, and Children.
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The gathering underscored the importance of collaboration between financial institutions, government, and development partners in creating sustainable economic opportunities for coastal communities.
FINANCIAL LITERACY FOR LONG-TERM SUCCESS
Leading the financial education sessions, Mr. Noel Chuwa, Senior Blue Economy Officer at Equity Bank Tanzania, delivered comprehensive training on financial education and business management.
Participants learned practical skills including:
- Preparing business budgets
- Managing cash flow
- Building savings
- Accessing financial services
- Responsible borrowing
- Strengthening business sustainability
The sessions were designed to improve financial decision-making and increase entrepreneurs' ability to access formal financial services.
PROMOTING MODERN AND SUSTAINABLE SEAWEED FARMING
During the technical sessions, Ms. Joyce Denis from Zanzibar Maisha Bora Foundation introduced participants to modern seaweed farming techniques aimed at increasing productivity while improving resilience against climate change.
She highlighted best management practices that help protect critical marine ecosystems such as:
- Mangrove forests
- Seagrass beds
- Coral reefs
Her presentation emphasized that environmental conservation and economic growth can go hand in hand, ensuring long-term sustainability of Zanzibar's blue economy.
ADDING VALUE THROUGH IMPROVED PROCESSING
Participants also received practical training from Ms. Claudia Gaspar Kanyairita of Blue Life Conservancy on reducing post-harvest losses.
The session focused on:
- Improved drying techniques
- Better processing methods
- Meeting international quality standards
- Value addition through processed seaweed products
She encouraged farmers to move beyond selling raw seaweed by investing in value-added products that can significantly increase household incomes.
GOVERNMENT COMMENDS THE INITIATIVE
Speaking during the event, Ms. Siti Abas Ali praised Equity Bank Tanzania and NORAD for investing in the growth of Zanzibar's blue economy.
She noted that initiatives such as the NORAD-FINE Project will:
- Improve the livelihoods of small-scale entrepreneurs
- Increase productivity across the fisheries and seaweed sectors
- Enhance food security
- Promote sustainable economic development across Zanzibar
SUPPORTING ENTREPRENEURS THROUGH THE NORAD-FINE PROJECT
The NORAD-FINE Project seeks to strengthen entrepreneurship across Tanzania in sectors including:
- Blue economy
- Marine waste management
- Renewable energy
- Clean cooking
Zanzibar has been identified as a strategic implementation area due to the significant role played by fisheries and seaweed farming in the islands' economy.
Beyond training, the programme supports entrepreneurs through affordable financing and financial education tailored to the unique needs of businesses operating within the blue economy.
ABOUT EQUITY BANK TANZANIA
Equity Bank Tanzania Limited is a commercial bank licensed and regulated by the Bank of Tanzania. The bank is committed to driving social and economic transformation by expanding access to innovative financial services that empower individuals, businesses, and communities.
The bank currently operates 18 branches, 24 ATMs, and a network of more than 3,000 banking agents across Tanzania, serving over 500,000 customer accounts.
Equity Bank Tanzania is a subsidiary of Equity Group Holdings Plc, one of Africa's leading financial services groups with operations in Kenya, Uganda, Rwanda, South Sudan, the Democratic Republic of the Congo (DRC), and Tanzania.
FINAL THOUGHTS
The Blue Economy represents one of Tanzania's fastest-growing opportunities for inclusive economic development. By combining financial literacy, sustainable marine practices, and access to affordable financing, Equity Bank Tanzania's partnership with NORAD is helping coastal entrepreneurs build resilient businesses while safeguarding the natural resources on which their livelihoods depend.
As Zanzibar continues to strengthen its blue economy, initiatives such as the NORAD-FINE Project demonstrate how strategic partnerships can create lasting social, environmental, and economic impact.
For more Banking, Finance and Business news from Tanzania and across Africa, continue following Kitomari Banking & Finance Blog for timely updates and in-depth industry insights.
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