President of Zanzibar and Chairman of the Revolutionary Council, Dr. Hussein Mwinyi, today launched the European Investment in Zanzibar Report at the Zanzibar-European Union (EU) Business Forum.

The event brought together key stakeholders, including EU Ambassador to Tanzania Ms. Christine Grau, ambassadors from Italy and the Netherlands, representatives from Finland, Sweden, Ireland, France, senior government officials, and over 300 attendees, mostly private sector leaders from Zanzibar.

In his remarks, President Mwinyi underscored the significant role of European investment in Zanzibar’s economic transformation, noting that EU investors contribute 31 percent of all total private registered projects in Zanzibar.

“The European Union’s investment in Zanzibar has reached EUR 2.8 billion across 331 projects, creating over 19,000 jobs. These investments are in tourism, blue economy, manufacturing, real estate, and other sectors aligning with our Zanzibar Development Vision 2050,” said Dr. Mwinyi.

He also highlighted that the government of Zanzibar has been transforming its Blueprint for Economic Growth and Development, focusing on investment-friendly policies, infrastructure development, and a streamlined regulatory framework.

EU Ambassador Christine Grau emphasized the strong role of EU member states in driving foreign direct investment in Zanzibar.

“The European Union and its member states remain the leading foreign direct investor in Zanzibar, accounting for 47% of the total investment stock in 2022, with countries such as Italy, Spain, Germany, and the Netherlands leading the way.

Our investments are diverse. We engage in hospitality, real estate, manufacturing, renewable energy, and agriculture, among others,” she said.

The report highlights that over the last five years (2018–2023), European companies have invested approximately TZS 4 trillion across 121 projects, creating over 7,300 jobs. In 2023 alone, European firms pledged more than EUR 630 million (about TZS 1.6 trillion) in investments in key sectors.

The report was launched during the second Zanzibar-EU Business Forum, a key platform for fostering dialogue between the government and investors. The forum focused on addressing challenges facing businesses and identifying solutions to enhance the investment climate.

Organized in cooperation with the Zanzibar Investment Promotion Authority (ZIPA) and the European Business Group (EUBG), the forum reaffirmed the EU’s commitment to Zanzibar’s economic growth through strategic partnerships and sustainable investments.

Read the full report and brochure here