DEMO Innovators managed to handover a 5 year “Business Plan for Sea weed Business” to The Revolution Government of Zanzibar, under the Ministry of Trade and Industrial Development assigned to Zanzibar Seaweed Company (ZASCO).
Limited seaweed farming activity has been taking place in Zanzibar coastal waters in the current years. This has involved the identified species Spinosum, Cottonii and Ulva extracts into products development that has demonstrated commercial potential. The need for seaweed product has been identified as significant market. The need for seaweed product has been identified as significant market. This sector is largely based on high volume, low value product; however there are a significant number of smaller processors working with higher value products. This sector has not yet reached its potential value and it is hoped that, by identifying more products of higher value, greater returns will be realized from this raw material.
This business plan has shown how a total investment of only Tsh.16.9 Billion could yield cumulative net profits in excess of Tsh.428 Billion over a five-year period.
Zanzibar has experienced explosive growth over the past years. Local businesses are slowly catching up with this new opportunity. We are opening a new business opportunity for seaweed farmers and products production that will focus on the local Zanzibar production.
