Mwinyi keen to establish digital hub in Isles

31Jul 2023
The Guardian Reporter
ZANZIBAR
Features
The Guardian
Mwinyi keen to establish digital hub in Isles

When the Zanzibar President and Chairman of the Revolutionary Council, Dr Hussein Ali Mwinyi, wanted to appear unannounced at the African Regeneration Cities and Futures summit, the element of surprise was lost in that presidents never travel alone, they have an advance team.

Zanzibar President Dr Hussein Ali Mwinyi addressing investors and other attendees to African Regeneration Cities and Futures summit held at Jungle Paradise (Mbweni Ruins) when made a surprise visit.

But all was not lost.

In less than half an hour, Dr. Mwinyi pledged his government's commitment to establishing a digital free zone in the Isles, a concept championed by the event organizers, the Threefold Foundation. Displaying unassuming demeanor and excellent deportment, Dr. Mwinyi laid out the necessary supporting policies and infrastructure investments needed to bring this vision to life.

"We are on track to provide the required infrastructure for this digital haven, including sea internet cables, fiber networks, and extensive connectivity across the island. We are also ready to implement tax incentives for strategic investors to support this digital transformation," Dr. Mwinyi announced.

This groundbreaking initiative, dubbed OurWorld Digital FreeZone, promises to redefine the realm of digital businesses. Among other things, President Mwinyi stated his government's readiness to revisit policies and legislation to support the establishment of the free zone, intending to establish it as a regional digital hub.

The initiative is specifically designed to cater to digital nomads and SMEs, anticipated to act as a potent catalyst for digital ecosystems, providing a decentralized, automated platform for smooth, robust legal and financial operations.

Expressing his gratitude for the commitment and hard work of the OurWorld Zanzibar team led by the Threefold Foundation, the Zanzibar president said, "Our vision is to foster a digital ecosystem that harmoniously blends the tranquility of Zanzibar with the awe-inspiring power of the digital age. I am deeply appreciative of the dedication of the OurWorld Zanzibar team in turning this vision into a reality."

Echoing Dr. Mwinyi's vision, Kristof De Spiegeleer, Founder of the Threefold Foundation, added, "Our collaboration with the Government of Zanzibar goes beyond creating a unique special economic zone. We're offering digital nomads and SMEs an innovative platform to structure their digital businesses. We aim to revolutionize digital operations and bring unparalleled value to every inhabitant of the island."

OurWorld Digital FreeZone is a leader in digital innovation, offering a regulated free zone guided by a comprehensive legal framework. This framework is built using the advanced ThreeFold Digital Twin Technology, an innovative digital tool designed to bolster growth and innovation across various digital sectors. Digital natives, nomads, and SMEs will be able to register their e-businesses and manage their legal and financial operations in Zanzibar, benefiting from a business-friendly regulatory framework and attractive tax incentives.

By leveraging cutting-edge technology, OurWorld embarks on a transformative journey destined to unlock the immense potential of digital nomads and SMEs, thus providing a vital impetus to Africa's burgeoning digital economy.

De Spiegeleer emphasized that Zanzibar offers not only an appealing investment opportunity but also an ideal environment for catalyzing transformative change. "The internet is everything for now, being used for learning, communicating, and various innovations. The special economic zone is one area that offers everything in a digital way. You cannot bring more than one million people physically to Zanzibar for shopping, but through digitalization, you can reach them and improve the economy. Threefold is here to stay."

The establishment of the OurWorld Digital FreeZone in Zanzibar holds vast economic potential for the island and beyond. As the world becomes increasingly digitized, digital free zones like OurWorld could attract a diverse range of digital businesses and nomads looking for a favorable environment to grow. This influx will create new job opportunities, stimulate economic growth, and diversify the local economy.

Moreover, this initiative aligns with Zanzibar's ambitious goal of fostering a digital transformation within its economy. By providing necessary infrastructure and tax incentives for strategic investors, Zanzibar is paving the way for a thriving digital economy. It signals a clear intent from the government to establish Zanzibar as a global hotspot for digital businesses, nomads, and innovators.

Carefully planned and featuring a suite of regulated components, OurWorld aims to stimulate growth across a wide array of digital sectors. With a comprehensive feasibility study conducted and a Head of Terms agreement established with the Revolutionary Government of Zanzibar, the project is well-positioned for success.

The Revolutionary Government of Zanzibar, through the Zanzibar ICT Infrastructure Agency (ZICTIA), under the direction of Executive Director Shukuru Hawadh Suleiman, plans to allocate 3,000 hectares of land where a hub will be constructed for renowned companies to invest in.

ENDS

 

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