Tanzania's Zanzibar Leases 10 Islets to Investors to Spur Blue Economy

24 December 2021

Dar es Salaam, Tanzania — Tanzania's Zanzibar authorities announced on Thursday that they have leased 10 islets to domestic and foreign investors in a move aimed at promoting the blue economy.

Sharif Ali Sharif, the executive director of the Zanzibar Investment Promotion Authority (ZIPA), said more islets will be leased to investors in efforts aimed at opening up investment opportunities.

"Investments to be put up on the 10 islets are intended to support the Zanzibar government's intention to improve and promote the blue economy," Sharif told a press conference.

He said a total of 53 investment companies, both domestic and foreign, applied to run investments on the islets, including construction of tourist hotels and coral parks.

"In total, the government will earn 261.5 million U.S. dollars from the investments," said Sharif.

AllAfrica publishes around 500 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.

X