Oman Sovereign Wealth Sees Promise in Restoring Malindi Port in Zanzibar
Posted on 01/21/2022
The Oman Investment Authority (OIA) continues to diversify its international investment portfolio in places such as Africa. The OIA inked a Memorandum of Understanding (MoU) with the Government of Zanzibar to study the feasibility of restoring the Malindi port, improving its waterfront, and moving commercial activity to a new port. Through this, the SWF aims to enhance Oman’s gain from the Belt and Road Initiative passing through Asian and African ports, and building on historical relations between Oman and East Africa by exploring investment opportunities that will benefit local sectors through OIA companies.
The main port of Zanzibar handling international trade for Zanzibar. About 95% of Zanzibar import and export passengers through this port.
