Zanzibar courts investors via Equity blue economy push

ZANZIBAR: Zanzibar is seeking closer investor ties through Equity Bank, spotlighting marine resources as a gateway to future economic growth, officials said.

Zanzibar’s Minister of Trade and Industrial Development, Omar Said Shaabani, said the government is committed to creating a conducive business environment.

“We want an environment that is friendly both to the investors and the nation.

“We are ready to address legal, operational, and infrastructural challenges to ensure investors get everything they need to operate efficiently,” Mr Shaabani said.

He said Equity Bank has linked the islands with global investment networks.

“It is rare to see financial institutions take direct action in bringing investment opportunities closer to investors,” he said.

“Equity has shown it is at the forefront of implementing the government’s call to strengthen investment and trade,” he added.

Rashid Ali Salim, Deputy Permanent Secretary in the President’s Office (Labour, Economy and Investment), said the forum provided a key platform to promote Zanzibar’s blue economy sector, including marine tourism, fisheries, maritime transport, and port infrastructure.

He called on Equity Bank to offer Shariah-compliant financial products.

Equity Bank Tanzania’s Director of Commercial Banking, Prosper Nambaya, said the bank would support Zanzibar businesses through capital, technical advice and B2B engagements, with emphasis on logistics, manufacturing, and agriculture.

“Through our Equity Group Foundation, we are deeply investing in the empowerment of women, youth, and small businesses,” Nambaya said, adding “we believe the blue economy holds vast opportunities for investors, and we will ensure these opportunities reach those who deserve them.”

Forum participant Kavsel Kocadag said Zanzibar’s opportunities are critical to business growth across Africa and beyond.

Zanzibar Insurance Corporation, Investment Manager, Rahim Khaji Hamza said their products help protect investor projects from risk.

The forum reflected growing alignment between the public and private sector in promoting Zanzibar as an investment destination