Z’bar unveils six high-growth sectors for investors

ZANZIBAR: ZANZIBAR has identified six high-potential sectors blue economy, tourism, real estate, manufacturing, agriculture and public-private partnerships (PPPs) as key areas for investment, aiming to attract both local and international investors.

Speaking at the 49th Dar es Salaam International Trade Fair (DITF), Deputy Minister for Community Development, Gender, Women and Special Groups, Mwanaidi Ali Khamis, emphasised Zanzibar’s readiness for business.

Her remarks were made during the launch of ‘Zanzibar Business Day’ under the theme “Zanzibar: A Land of Investment Opportunities.” The blue economy took centre stage, with five strategic investment areas outlined: fisheries and aquatic farming, marine tourism, oil and gas exploration, marine transport and marine spatial planning.

An official with the Ministry of Blue Economy and Fisheries noted the archipelago’s oceanrich geography, which limits large-scale farming but offers strong potential in ocean-based industries.

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The official cited support through the Uviko-19 programme, which provided boats and fishing ponds to local fishers though high boat costs (15m–20m TZS) remain a challenge.

Tourism that contributes about 30 per cent of Zanzibar’s GDP remains a top priority. The Zanzibar Commission for Tourism identified heritage tourism, marine sports, conference tourism, sports tourism and eco-tourism as focus areas.

With over 87 heritage sites, many needing restoration, the goal is to increase visitor stays beyond the current average of 7–8 days and boost spending. Real estate and housing were also highlighted.

Mr Khamis Dunia from Zanzibar Investment Promotion Authority (ZIPA) called for investment in affordable housing, noting that only 20 per cent of Zanzibaris can currently access the formal market.

Additional opportunities exist in agriculture and processing industries. To attract investment, Zanzibar offers generous incentives, including up to 100 per cent import duty exemptions, five-year corporate tax holidays, land rent waivers and full foreign ownership.

Minimum capital requirements are 2.5 million US dollars for foreign and 100,000 US dollars for local investors.

Demonstrating investment potential, Zanzibar-based Zaidat Products signed a supply agreement with Alhaji PHD Herbs Company to distribute its seaweed-based cosmetics. Company director Ms Tatu Suleiman hailed it as a breakthrough that also empowers local seaweed farmers, especially women.