Assessment of Government Financing through Commercial Banks on Seaweed Production in Zanzibar

Abstract

This study of Assessment of Government Financing through Commercial Banks on Seaweed Production in Zanzibar. The study aim to help seaweed producers as well as Blue Economy by proving different Financing through Commercial Banks. Using questionnaire for collecting primary data. The study applied quantitative data analysis. Quantitative method was in the form of descriptive statistics using frequency distribution. The finding of the study showed that the finance provided by the Government through Commercial Banks to seaweed producers in Zanzibar such as loan, hire purchase, however many of the respondent were not benefiting from the finance, and only few of them were receiving loan as a financing. The finding shows that those receiving the Finance from Commercial Banks most of them received loan, and on the impact of the finance they receive was of no interest and can be used to buy input and output material such as rope, seeds, tools and equipment, branding material and packaging materials. However the finding of the study shows that the condition required by the Commercial Banks for the seaweed producers was to be in cluster rather that individual and number of years in seaweed industry, income generated per month, quantity of production. Also on the finance control that are provided by Commercial Banks education was given. The finding of this study shows that many seaweed producers are not benefiting with the Government Finance through Commercial Banks despite the follow up the made, and others are not aware of the services if they are available.