Investing in Zanzibar

COME FOR A HOLIDAY stay to invest in Zanzibar

In August 2020, after months of lockdown, Russia opened its borders to just two countries: Tanzania and Turkey. Journalist Ingrid Kim opted for a beach break in Zanzibar and loved it so much she has returned for a year-long stay during which she hopes to encourage more of her compatriots of the leisure and investment potential here.

I remember a Russian diplomat telling me about the wonders of Zanzibar, but I never thought that I would ever get to Africa. But when, after months of lockdown, the Russian government opened borders in August 2020 for just two destinations, Tanzania and Turkey, I knew which to choose.

Having visited Turkey many times, I decided to venture to Africa for the first time. I flew by Ethiopian Airlines via Addis Ababa. The 10-day trip was well organised by tour agency Africa Escapes and I stayed at Kendwa Sunset Beach Bungalows, enjoying all the attractions of one of main island Unguja’s best beaches.

I fell in love with the place and did what many of my fellow Russian holidaymakers have come to do – I decided to return and stay a full year. I am very much enjoying my time here, but it has not been without its obstacles.

Accommodation

Finding a place to rent is not easy. The rental prices for private houses are very expensive, especially if like me you set your heart on one of the historic buildings in Stone Town.

Having had to put up with a lot of cold weather in Russia, a lot of my compatriots stay by the beach and make the most of the hot weather here. It seems that I am alone in wanting to stay in Stone Town where I can conduct all my business meetings and have the travel options of the port and airport nearby. I like that you can easily set up your own company even you are not resident and buy land and start a new business. As a result, Zanzibar is attracting plenty of business projects from foreign investors.

There is a lot going on here with different ideas and projects. All that is required is support from potential investors

I like the stable political situation here in Tanzania and have been really impressed with how the youth of the country are so active here. I have seen many examples of them developing progressive projects in art, climate change or environmental pollution and business growth.

Government support

I have not found Zanzibar a sleepy-island alternative to the business-minded mainland. There is a lot going on here with different ideas and projects. All that is required is support from potential investors. The government is providing good conditions for investors and partners, especially for the development conception of green and blue economy projects.

The economy of Zanzibar is flourishing. Only a lack of appropriate information of investment conditions and rules is causing some potential foreign investors delays or problems in realising it. That is why I decided to open my consultation company to assist Russians or Ukrainians or other clients from all the world to launch their businesses and promote their projects. The challenge for Eastern investors is that few of them speak English so I am helping to translate from both sides.

Investment drive

I hope that in the future Zanzibar organises more events for business networking on a level with fashion and music festivals that are already so well supported here. I also look forward to the Zanzibar Investment Promotion Authority, which is at the forefront of the investment drive in the archipelago, connecting with consultants such as myself so I can obtain fresh information about business conditions for my clients. The global tourism industry has taken a significant hit because of Covid, however during the pandemic Zanzibar has been working non-stop to create a tourism experience here like nowhere in the world. Let’s get the world involved.

More information

To find out more about Ingrid’s investment consultancy services in Zanzibar, visit dhow-consulting.com or @ingridaworld on Instagram