The magnetic charm of Africa is hard to resist, and anyone who has lived here for a period of time will attest to the fact that the continent gets under your skin, touches your soul and beckons you back. Here are some of the best reasons to linger longer and invest in Zanzibar, an island that epitomises the wild beauty and charismatic allure of Africa.
Although Tanzania is one of the poorer countries on the African continent, you can’t help but feel the optimism and love of life. Bias and prejudice are hard to find, with diverse ethnic groups and religious traditions living harmoniously side by side. By and large, the local population is kind and generous in spirit with an undercurrent of respect and politeness. A magnificent business and leisure destination with people of Zanzibar who are friendly and hospitable. You will find the Island a lovely place for both work and leisure.There are several more reasons as to why you should invest in Zanzibar.
Zanzibar is politically, socially and economically stable. Private investments are constitutionally protected as well as through international conventions.
Zanzibar has been a trading hub for millennia. Due to the geographical location, it has become an ideal place for companies that need to do business with mainland Africa and beyond. This makes investing in Zanzibar an ideal strategic decision.
Zanzibar is unique and differs from other small island economies in the world. Being part of United Republic of Tanzania, it has huge market potential with a population of 45mil. United Republic of Tanzania being a member of East African community (EAC) and Southern African Development Community (SADC). Zanzibar is assured of a market area with over 300 million inhabitants. Regional and international market concessions when you invest in Zanzibar can be received by:
- Utilising the East African and SADC market using Zanzibar as a hub for regional trade
- Enjoying Export Quotas to European Market
- Utilising American Market through AGOA
- Having Proximity to land locked countries in Central and Eastern Africa
The amazing island of Zanzibar has many resources. For example agricultural and marine products, lovely sandy beaches and sunshine. Historical and cultural sites in addition to the traditional life styles of Zanzibar. More opportunities may be realised in the very near future as Zanzibar has recently discovered oil and gas.
When you invest in Zanzibar, there are many employment opportunities where employers employ expatriates in key positions. ZIPA is available to facilitate the engagement of local labour force as well as processing necessary permits for the expatriates.
Predictable Fiscal Regime
Zanzibar has a very stable and predictable fiscal regime. The importance of companies who tend to recover investment costs prior to the payment of corporate tax. Foreign investors are allowed to own hundred per cent of their businesses.
Lucrative Incentive Package
Zanzibar Investment Promotion and Protection Act offers lucrative package of incentives. It also provides amazing opportunity to strategic investors. For details visit the official web site of Revolutionary Government of Zanzibar.
Investing in Zanzibar will be protected by law and international conventions. The income from tourism is rising to plug the gap. Some observers expect it to be Zanzibar’s largest generator of foreign exchange within about a decade. Zanzibar is looking at tourism as the leading foreign revenue source, as the number of foreign tourists visiting the island has grown in the last two decades.
According to official data, tourism is currently the Island’s leading source of foreign revenue. It contributes up to 70 percent of export value in foreign income. The number of tourists visiting the Isles has been growing at 27,5% annually. Which is attributed to improved infrastructure including a modernized airport, roads and friendly environment. Which has helped improve logistics services, another reason why to invest in Zanzibar.
A new airport, of approximately 100.000 square meters will replace the existing 21,000 square meters. When completed, it will have the capacity to serve up to 1.5 million passengers per year.