Zanzibar calls for investors to develop and manage its small islands
Wednesday August 25 2021
Zanzibar wants investors to develop and manage nine islands in Pemba and Unguja. PHOTO | FILE | NMG
Tanzania’s semi-autonomous Island, Zanzibar, has announced a call for private investors to manage and operate its nine islands in Pemba and Unguja.
In a line with its mandate to boost the economy, Zanzibar intends to further promote the development of its small islands into high-end economic activities.
“This decision is based on the need for diversification to attract very high-end investors. Small islands surrounding Zanzibar are major assets that investors can capitalise for a win-win potential,” the government says in a statement seen by The EastAfrican on Wednesday.
The Zanzibar government, through the Zanzibar Investment Promotion Authority (ZIPA), invites potential investors to express their interests to develop, operate and manage small islands or plot of land in small islands under long term lease.
According to ZIPA interested investors have until September 16 to provide information on their experience and ability to develop and manage investment projects as well as the skills and ability in conserving the environment, biodiversity, cultural heritage and community development of the isles.
The small islands on the market includes Changuu also known as Prison Island, Bawe, Pamunda A and B, Kwale and Chumbe all in Unguja.
Others are Njao. Misali and Matumbini along Pemba coast.
In the past 10 months, Zanzibar has approved 30 investment projects that have the potential to inject more than $172.13 million in the economy and create 1,886 jobs for the islanders.
Mudrik Ramadhan Soraga, the Minister of State, President's Office, Labour, Economy and Investment, told the House of Representatives in May that this year’s investment campaign focuses on Malaysia, the Philippines, Singapore, Indonesia, Sweden, South Africa, Abu Dhabi, Zimbabwe and Dubai, with an eye on the industrial sector.