Mwinyi reiterates commitment to improving Zanzibar tourism

Zanzibar. Zanzibar President Hussein Mwinyi yesterday reiterated the government’s commitment to improving infrastructure in efforts to create an enabling environment for the growth of the tourism industry.

Tourism is Zanzibar’s main economic activity, which contributes significantly to job creation and revenue.

Dr Mwinyi, who was speaking during the second Zanzibar Tourism Stakeholders’ Summit (Z-Summit), said infrastructure facilities such as roads, electricity, water, and airports promote activities in the industry, which creates economic opportunities for the local citizens.

He also urged citizens to take advantage of the available opportunities in tourism to improve their economic well-being.

“To reaffirm this commitment, we recently passed the new Investment Act of 2024, which provides numerous tax incentives and protects investors in the tourism industry and other areas,” said Dr Mwinyi.

The two-day summit was organised by the Zanzibar Association of Tourism Investors (ZATI) and Kili Fair, with Exim Bank Tanzania being the main sponsor.

ZATI chairman Mr Rahim Bhaloo said the event, which attracted over 600 participants, aims to bring together various stakeholders in the tourism sector, including service providers and consumers, with the objective of expanding Zanzibar’s presence in the international tourism arena.

The minister for Tourism and Antiquities in Zanzibar, Mr Mudrick Ramadhan Soraga, said that the government is promoting inclusive and sustainable development in the tourism industry while supporting both small and large-scale investors.

Speaking during the summit, Exim Bank Tanzania chief executive officer, Mr Jaffari Matundu, expressed the bank’s readiness to serve local and international stakeholders in the tourism sector in alignment with the government’s efforts to accelerate growth in this vital industry.

“Our primary sponsorship of this summit for the second consecutive time is a clear demonstration of our commitment. Through our collaboration with ZATI, we have been able to provide financial solutions to its members. This cooperation underscores Exim Bank’s ongoing support for key sectors of the economy, particularly Zanzibar’s tourism,” he said.

“Our commitment to providing competitive rates for foreign exchange services ensures our customers receive quality service without obstacles. Furthermore, our efforts in providing loans to boost the capital of tourism stakeholders have led to increased productivity, benefiting not only the stakeholders but also the bank,” he added.