Zanzibar’s investment body boss becomes new minister for economy
What you need to know:
- Recently, during the launch of various projects to celebrate the 60th anniversary of the Zanzibar Revolution, President Mwinyi commended Zipa, led by Shariff, for its commendable work in investment matters.
Dar es Salaam. Zanzibar now has a new minister for Economy.
He is Mr Sharif Ali Sharif who has been working as executive director for the Zanzibar Investment Promotion Authority (Zipa) since 2020.
President Hussein Mwinyi appointed Mr Sharif Ali Sharif, as the new Minister of State in the President’s Office (Labour, Economy and Investment) on February 21, 2024, according to a statement released by Zanzibar’s Chief Secretary, Ms Zena Ahmed Said.
Mr Sharifa is replacing Mr Mudrik Ramadhan Soraga who was recently appointed the Minister for Tourism and Heritage.
Last week, Dr Mwinyi appointed Mr Sharif as a member of the House of Representatives after a minor cabinet reshuffle. That followed the resignation of Mr Simai Mohamed Said as Minister for Tourism and Heritage.
Prior to the appointment, Mr Saroga was the Minister for Labour, Economy and Investment.
Recently, during the launch of various projects to celebrate the 60th anniversary of the Zanzibar Revolution, President Mwinyi commended Zipa, led by Shariff, for its commendable work in investment matters.
Over the course of three years, from 2020 to November 30, 2023, Zipa has registered 296 projects with a capital of $4.5 billion (Sh11.3 trillion).
The projects are expected to generate more than 17,479 jobs, including 112 in the hotel sector, 56 in real estate, 36 in manufacturing and in various other sectors.
It is during Shariff's tenure that Zanzibar managed to lease 16 out of its 20 islets that had been listed for leasing to investors. At least $384.5 million (about Sh970 billion) is to be invested in the islets.
