Dar es Salaam, May 21, 2025 – The launch of the Zanzibar Sukuk marks a historic chapter in Tanzania’s financial sector as the first-ever Islamic bond issued by the Government of Zanzibar. Structured in accordance with Shariah principles, this Sukuk provides a non-interest-based investment option, appealing to a growing pool of ethical and faith-conscious investors.
📊 Key Facts at a Glance
- Issuer: Government of Zanzibar
- Listed On: Dar es Salaam Stock Exchange (DSE)
- Listing Date: May 21, 2025
- Target Capital: TZS 300 billion
- Total Subscription: TZS 381.38 billion (127.27% oversubscribed)
- Minimum Investment: TZS 1 million
- Profit Rate: 10.5% p.a.
- Subscription Period: March 6 – April 11, 2025
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🏗️ How the Funds Will Be Used
Proceeds from the Zanzibar Sukuk will be invested in transformational infrastructure projects across the isles:
- 🏥 Healthcare: Binguni Cancer Treatment Hospital
- 🛣️ Transport: 40 km of roads in Unguja and Pemba
- ⚡ Energy: Upgrades to electricity infrastructure
- ⚓ Port Development: Mangapwani Integrated Port
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🏢 Who's Behind the Structure?
This Shariah-compliant Sukuk was arranged and managed by:
- Yusra Sukuk Company Limited (Issuer)
- Mayzuh Company Limited (Lead Arranger and Transaction Manager)
- Becon Sukuk Company Limited (Special Purpose Vehicle)

🌍 Regional Significance and Future Outlook
The overwhelming response to the Zanzibar Sukuk reflects growing regional interest in Islamic finance. Its success paves the way for:
- Broader inclusion of Shariah-compliant instruments in Tanzanian capital markets
- Cross-listing potential on other East African exchanges
- Increased visibility and access for retail and institutional investors
💬 “This Sukuk is a vital step toward diversifying investment vehicles and supporting Zanzibar’s long-term economic goals,” noted industry experts.
💼 Final Thought
The Zanzibar Sukuk not only breaks new ground in Islamic finance but also reaffirms Tanzania’s ambition to broaden its capital markets ecosystem. With robust investor interest and clearly defined development goals, this issuance sets the stage for more innovative financial products in the region.
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