A highly anticipated investment summit has been rescheduled to June 12 to 15 this year in Micheweni, Pemba, as organizers respond to high demand from local and international participants.

Saleh Saad Mohamed, the Zanzibar Investment Promotion Authority (ZIPA) executive director, said at a press conference here at the weekend that the event, earlier slated for May 7, was postponed following multiple requests from prospective attendees seeking more time to register and prepare. 

He appealed for a big turnout by local and foreign investors, seizing this extended window to register for the landmark event, underlining that interest in the summit was ‘overwhelming.’

Extension provides room for international participants in particular to finalize arrangements,” he said, explaining that a big turnout is crucial to explore the growing investment potential in Pemba.

The summit is expected to draw over 1,000 participants, including investors, entrepreneurs and policymakers from across Africa and beyond.

President Hussein Ali Mwinyi is expected to set to officiate at the opening ceremony as the event is seen as a cornerstone initiative in the government’s broader strategy to unlock the economic potential of Pemba Island, often overshadowed by its sister island, Unguja.

“Zanzibar offers a wealth of untapped opportunities and Pemba is at the heart of our next phase of investment-led development,” the director asserted, pointing the breadth of opportunities, from marine resources in the blue economy to healthcare and housing. “The island is ripe for growth,” he stated.

Attendees will be taken on guided site visits to showcase key areas earmarked for investment, including the proposed construction of a new port in Wete, hotel and tourism development projects, apart from infrastructure upgrades such as ongoing road construction to improve connectivity across the island.

Investment prospects also span sectors such as maritime transport, fisheries and public infrastructure, he said, stressing government commitment in fostering an enabling environment for investors.

With the extended registration period, ZIPA expects the number of participants to exceed initial projections, potentially making the summit a landmark event in Zanzibar business gatherings lately, he added.