The President of Zanzibar and Chairman of the Revolutionary Council, H.E. Dr. Hussein Ali Mwinyi, has met with leaders from various South Korean institutions and companies to discuss opportunities for financing, investment, and technical expertise regarding strategic development projects in Zanzibar.
The meetings took place on October 30, 2026, in Seoul, Republic of Korea (South Korea), involving leaders from K-FINCO, HEERIM, Sejong Plant, SAMOO C.M. Architects & Engineers, and Sung Shin Rolling Stock Technology Ltd. (SSRST).
The discussions focused on expanding financing opportunities and attracting the participation of Korean companies in priority projects in Zanzibar—specifically in the sectors of ports, maritime transport, roads, urban infrastructure, renewable energy, tourism, and industry.
K-FINCO outlined various guarantee and financing mechanisms used to facilitate the participation of Korean companies in development projects.
The meetings also centered on the Binguni Referral Hospital project and the Zanzibar International Convention and Exhibition Centre (MICE).
HEERIM has already prepared a development plan for the MICE project, while the process of selecting a lead consultant for the hospital project is currently underway.
Regarding the Binguni Referral Hospital, President Dr. Mwinyi stated that the project will encompass healthcare services and training, requiring modern medical equipment, robust hospital information systems, as well as expertise in design and management.
SAMOO C.M. and its partners presented their experience and capabilities in these areas.
Regarding water services, the environment, and the blue economy, Sejong Plant expressed interest in participating in projects concerning clean and safe water, wastewater treatment, and environmental protection, while also exploring potential financing options.
The company also indicated an interest in sourcing fishery products from Zanzibar and investing in cold storage systems to facilitate market access and preserve the quality of these products.
President Dr. Mwinyi emphasized the need for continued professional dialogue to analyze the discussed projects, their specific requirements, and potential financing models—all in accordance with government procedures and tender regulations.
Furthermore, President Dr. Mwinyi outlined the Government’s plan to reintroduce passenger and tourist rail services in Zanzibar; in this regard, Sung Shin Rolling Stock Technology Ltd. has expressed interest in collaborating with the Revolutionary Government of Zanzibar on the project.
