Prime
Mwinyi outlines plan to transform Pemba into investment hub
What you need to know:
- Speaking during the opening of the inaugural Zanzibar Investment Forum, Dr Mwinyi said the government is focused on attracting long-term local and foreign investors
Pemba. President Hussein Mwinyi has reiterated the government’s firm commitment to transforming Pemba Island from a land of untapped potential into a beacon of innovation, commerce, and inclusive development.
Speaking during the opening of the inaugural Zanzibar Investment Forum on Monday at the Micheweni Free Economic Zones in North Pemba, Dr Mwinyi said the government is focused on attracting long-term local and foreign investors to stimulate inclusive growth, create employment opportunities for youth, and improve household incomes through sustainable and productive investments.
“The wealth of Pemba’s natural resources, resilient communities, and strategic location make it uniquely positioned to support economic diversification, job creation, and environmental protection,” said Dr Mwinyi.
He noted that the government is guided by Zanzibar’s development plan, with strategic priorities in agriculture, sustainable fisheries, eco-tourism, renewable energy, and infrastructure development.
“We are determined to create an enabling environment where investments are not only profitable but also impactful—bringing lasting benefits to our people while preserving the natural beauty that makes Pemba unique,” he added.
Dr Mwinyi commended the Zanzibar Investment Promotion Authority (Zipa) for its efforts in laying a strong foundation for reform and for positioning Zanzibar as an attractive investment destination. He cited administrative streamlining, the introduction of targeted fiscal and non-fiscal incentives, and legal and institutional reforms to safeguard investor interests among the major achievements.
He further said the Zanzibar Investment Promotion Master Plan 2024–2029 provides a clear framework for attracting impact-driven investment, especially in underdeveloped regions like Pemba.
To ensure targeted investment, the government has set a minimum capital requirement of $5 million (about Sh12.9 billion) for foreign or local investors, with at least 30 percent of the capital contributed as equity. Alternatively, investors can inject a minimum of $2 million (about Sh5.15 billion) if their projects create at least 100 direct jobs for Tanzanians, particularly in sectors other than hospitality or in investments located on smaller islands, in accordance with the Investment Act No. 10 of 2023.
“These incentives are not just about attracting capital. They are about ensuring inclusive investments that align with the development goals of the island,” said Dr Mwinyi.
“To the people of Pemba—this is your time. This is the moment to see your island thrive through responsible investment that uplifts communities, protects our cultural identity, and preserves the natural heritage that makes Pemba so special,” he added.
The President also highlighted Zanzibar’s access to a regional market of over 400 million consumers, supported by reliable infrastructure, modern port facilities, and a stable policy environment.
Speaking at the same event, Zanzibar Insurance Corporation (ZIC) marketing manager Mr Mohammad Said Matumula said many investors are concerned about protecting their capital, and ZIC has responded by expanding its insurance products to include hotel, property, and general coverage.
He said providing such services gives investors peace of mind, as a lack of insurance could lead to devastating losses in the event of disasters.
Minister of State in the President’s Office for Labour, Economy and Investment, Mr Shariff Ali Shariff, described Pemba as a long-hidden treasure, rich in biodiversity, fertile soil, scenic beaches, and resilient communities.
“Today we tell the world—Pemba is open for business and investment,” he said.
Mr Shariff noted that the government is promoting investments aligned with the National Development Vision 2050, particularly in agro-processing, value addition in spices, seaweed and tropical fruits, tourism, and the blue economy.
Zipa executive director Mr Saleh Saad Mohamed said the Micheweni investment zone covers 800.1 hectares, and investors have already begun expressing interest in setting up projects.
The forum also saw the launch of the Zanzibar Investment Magazine, which will promote the islands’ investment story locally and internationally, as well as the unveiling of the Zipa Strategic Plan 2025–2030, the second phase of Zanzibar’s electronic investment window, and the release of the annual investment report.
