What does the word hakuna matata mean?

This article is about the Swahili phrase. For the song from The Lion King, see Hakuna Matata (song).
"Hakuna matata" is a Swahili phrase; roughly translated, it means "no worries". It is formed by the words hakuna (there is not here) and matata (plural form of problem). The phrase has been popularized by its use in The Lion King (in which it is translated as "no worries" in a song named after the phrase), so that it is heard often at resorts, hotels, and other places appealing to the tourist trade. The phrase is in more common use in Zanzibar and Kenya. The phrase is uncommon among native speakers of Swahili in Tanzania, who prefer the phrase "hamna shida" in the north and "hamna tabu" in the south.