Photo Credit: micheldenijs
Zanzibar Seeking Investors To Develop Its Smaller Islands
The Tanzanian island of Zanzibar is seeking private investors to develop and manage nine of its smaller islands. According to the East African, the goal is to create high-end activities that will boost the economy and create jobs.
Zanzibar has already approved 30 new investment projects over the past 10 months. These projects are expected to bring over $172 million in revenue to the island and create more than 1,800 jobs for locals.
“This decision is based on the need for diversification to attract very high-end investors,” said the Zanzibar government, as reported by the East African. “Small islands surrounding Zanzibar are major assets that investors can capitalize for a win-win potential.”
The islands include the Unguja islands of Bawe, Pamunda A and B, Kwale and Chumbe, as well as the Pemba islands of Njao, Misali, and Matumbini.
Also available for development is Changuu Island. Commonly known as Prison Island and Tortoise Island, it is a top Zanzibar attraction that formerly functioned as a quarantine station and coral mine, and today is home to more than a hundred giant land tortoises.
Through the Zanzibar Investment Promotion Authority (ZIPA), interested investors are invited to submit proposals by September 16 for the prospective development and management of one of the islands or a plot of land on one of them.
The agreement would be a long term lease. Information provided should include data supporting the interested party’s experience and skills in developing and managing investment projects. Applicants should also demonstrate experience in environmental and biodiversity conservation as well as the preservation of cultural heritage.