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, a new agreement to develop, design and operate the Zanzibar Domino with a long-term PPP framework was struck.

With the initial investor JV (Tanzanian AICL Group & Chinese Crowland Management Ltd.) out of the picture for the Zanzibar Domino project since June 2022, a new social impact funder has since committed capital for the project’s development.

“We overcame these challenges thanks to the shared convictions between the Zanzibar government, our teams as well as the new funder endorsements for the project’s unique  transformational value for Tanzania's tourism and investment sectors. "With realigned stakeholders we anticipate the start of site activities in Q4-2023” states Jean-Paul Cassia, CEO of xCassia. While concerns were raised about the capital required to build the project, Jean-Paul Cassia comments "the scale of the project and capital is one thing, but astute financial planning another, and this means a major portion of the development costs will be raised from asset sales and strategic phasing. We are confident in the viability of the scheme for the region and believe Zanzibar possesses a unique character that will continue to galvanise global tourists, investors and residents alike.”

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.”

For any inquiries: info@cassia.global 

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