French public investment bank Bpifrance and the Zanzibar Investment Promotion Authority (ZIPA) signed a Memorandum of Understanding (MoU) to strengthen economic cooperation between France and Zanzibar.
The MoU was signed in Zanzibar on 10th April 2025. It aims to support business development and project implementation between French companies and their partners in Zanzibar by establishing a framework for strategic cooperation and collaboration.
It was signed by Yves Battesti, Bpifrance Regional Director for East and Southern Africa and the Indian Ocean, and Saleh Saad Mohamed, Executive Director of ZIPA, in the presence of Anne-Sophie Avé, French Ambassador to Tanzania.
Under the agreement, Bpifrance and ZIPA will collaborate to facilitate high-impact transactions and projects involving French companies and their Zanzibari counterparts, including co-financing and co-investment initiatives.
The two institutions will also work together to identify priority sectors and enterprises that could benefit from tailored export financing solutions through Bpifrance Assurance Export, the French Export Credit Agency, including trade credit insurance.
In addition, both parties will share expertise and knowledge to promote trade missions, qualified networking opportunities, and the creation of ecosystems conducive to entrepreneurship and investment.
During the signing ceremony, Olivier Vincent, Executive Director for Export at Bpifrance, stated: “Through this partnership with ZIPA, we aim to support investments in key sectors. With our expertise, we can offer targeted export financing solutions to enable high-impact transactions and projects in Zanzibar. With this MoU, we seek to build bridges and foster long-term partnerships between entrepreneurs in France and Zanzibar.”
Anne-Sophie Avé, French Ambassador to Tanzania, commented: “This is more than a signature—it marks the beginning of a concrete partnership between France and Zanzibar. A partnership rooted in trust and ambition, opening the door to meaningful projects with real business impact. It reflects our shared commitment to fostering durable, mutually beneficial cooperation.”
ZIPA Executive Director Saleh Saad Mohamed noted via LinkedIn: “This MoU represents a shared commitment to unlocking innovation, enhancing economic resilience, and building a sustainable future for Zanzibar. Our Government, under President Dr. Hussein Ali Mwinyi, is fully committed to supporting investors through infrastructure development and strategic partnerships.”
He also acknowledged the continued support of the French community in Zanzibar’s economic development, especially in tourism, and called on investors to take advantage of the new partnership to position Zanzibar as a competitive investment hub.
