Excerpt from fdiintelligence.com
An ambitious public–private initiative in Zanzibar is trying to convince tech companies and workers to relocate to the semi-autonomous archipelago off the coast of mainland Tanzania.
Silicon Zanzibar, an initiative led by the Zanzibar Ministry of Investment and Economic Development, alongside tech companies and local developer CPS, will offer incentives under Zanzibar’s existing free economic zone programme. These will include 10 years of corporate tax exemptions and streamlined issuance of work visas for technical talent.
The programme is aligned with Zanzibar’s blue economy plan and is hoped to help boost local digital services and reduce the country’s dependence on the tourism sector. The World Bank estimates that tourism accounts for 27% of Zanzibar’s gross domestic product and 80% of foreign exchange earnings.
As a private–public taskforce finalises the details, the tech-friendly policies are not expected to be complete until the first quarter of 2023. But early movers are bullish about Zanzibar’s potential.
