29 September 2022
Since the Zanzibar Domino project was announced and launched in the press in August 2021 in the presence of senior members of government and business community, extensive capitalization delays contributed to a near absence of progress through June 2022. Following consultations with the government to overcome the exposure and financing impasse, xCassia was then fortunate to rapidly secure a new funding commitment from a US-based social impact investor which facilitated new agreements to develop, design and operate the Zanzibar Domino with a long-term PPP framework.
“We overcame these challenges thanks to the shared convictions between the government, our teams as well as the funder’s endorsement of the project’s unique long-term transformational value for Tanzania and Zanzibar. With realigned stakeholders, we anticipate the start of site activities in Q1-2023,” states Jean-Paul Cassia, CEO of xCassia. According to the Minister of State, President’s Office, Labour, Economic Affairs & Investments the Hon. Mudrick Soraga: “The Zanzibar Domino is a legacy project that has the potential of leveraging our government’s social and economic development policies for generations to come. It is a once in a lifetime opportunity.”
Positioned as one of Africa’s tallest buildings and destinations for tourism, entertainment, culture and global conferencing, the Zanzibar Domino offers visitors, residents and businesses a multi-faceted program designed to create year-round distinctive experiences, professional pathways and investment opportunities and is emblematic of H.E. President Dr. Hussein Ali Mwinyi’s ongoing vision of leveraging “brand Zanzibar” through a fleet of coordinated policies to help boost blue ocean economies, infrastructure investments, FDIs and Public Private Partnership schemes for the country.
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The Zanzibar Domino is a legacy project that has the potential of leveraging our government’s social and economic development policies for generations to come. It is a once in a lifetime opportunity - Minister of State, President’s Office, Labour, Economic Affairs & Investments the Hon. Mudrick Soraga