Editor’s Note: Special Budget Edition

We are delighted to present the second edition of ZiBi Magazine, a quarterly publication dedicated to exploring and analyzing business and investment opportunities in Zanzibar.

This edition, with a theme ‘Unlocking the Potential through Innovation and Technology’ focuses on elevating Zanzibar and position it to its rightful status as an economic gem in the Indian Ocean.

As an archipelago, Zanzibar possesses all the attributes necessary for growth, much like Seychelles and Mauritius, which stand as exemplary island economies in Africa. Zanzibar is now awakening to its immense opportunities, implement programs to capitalize on its strategic geographical position and taking control of its economy through innovation and technology.

Significant strides have been made to transform Zanzibar into a digital free zone and creating an enabling environment for corporate and private businesses to operate efficiently, profitably, and securely in the modern era.

To spice up this determination, the renowned Indian Institute of Technology Madras (IIT) established a base in the island following the invitation by the government of Zanzibar. We hope that Zanzibar will make good use of this partnership and that IIT will produce a skilled workforce that will help Zanzibar achieve its goals in competitive edge in digitalization.

The cover story of this issue highlights the recently presented Zanzibar 2024/2025 Budget. For the first time, this year budget has included digital transformation in the list of the national top priorities. According to the budget, modernization of the Zanzibar economy through innovations and technologies is underway.

We are pleased to feature an article by Dr. Nicholas Haan “7 Keys to Unlock Zanzibar’s Destiny to be a global hub for technology, innovation, and business” and a feature of Joseph Rubambe titled “Embracing the Future: Zanzibar’s Technology Transformation,” which delves into the island’s ongoing technological advancements. The IIT Madras contributes article on how digital entrepreneurship can be a force for a positive change, and the role of technology in transforming the banking and financial services in Tanzania.

We also report on the digital advancements in revenue collection by the Zanzibar Revenue Authority (ZRA),  Zanzibar Utilities Regulatory Authority (ZURA)’s Technological Innovation and Impact on Zanzibar’s Utility Sector and the efforts to build a resilient economy that benefits all Zanzibaris, spearheaded by the Zanzibar Economic Empowerment Agency (ZEEA). “I want ZEEA to build a resilient economy that benefits all Zanzibari. Innovation, inclusivity, and resilience can contribute to building a prosperous future for all,” asserts Mr. Juma Burhan Muhamed, Executive Director of ZEEA, in an interview with ZiBi.

We hope you find this edition insightful and inspiring as we explore Zanzibar’s path to economic prosperity through innovation and technology.

ZiBi Team