The first-place winner secured an investment of approximately $3,000 (about Sh8 million), while the second and third winners received $1,500 and $500 respectively. An additional five participants were awarded certificates of recognition for their performance.
Zanzibar. Zanzibar’s emerging entrepreneurs have received a major boost following the conclusion of the Zanzibar Business Plan Competition, an initiative aimed at supporting high-potential startups and small businesses across the islands.
Organised by the Coprosperity Fund, the competition brought together entrepreneurs from diverse sectors, with the top winners receiving direct investment and business support to scale their ventures.
The initiative, described as a first of its kind in Zanzibar, is designed to strengthen the local startup ecosystem by promoting innovation, entrepreneurship, and inclusive economic growth. It particularly targets youth-led enterprises, women entrepreneurs, and community-based businesses.
At the awards ceremony, the top three business plans were recognised, with the winners receiving financial backing and mentorship support.
The first-place winner secured an investment of approximately $3,000 (about Sh8 million), while the second and third winners received $1,500 and $500 respectively. An additional five participants were awarded certificates of recognition for their performance.
According to organisers, the competition attracted strong interest from entrepreneurs across Zanzibar, with applications spanning sectors such as technology, retail, manufacturing, and services.
Speaking during the initiative, Coprosperity Fund representatives said the programme aims not only to provide funding but also to equip entrepreneurs with practical business planning skills and ongoing mentorship to improve their chances of long-term success.
The fund operates by investing in small businesses in exchange for equity, while also providing hands-on support—an approach similar to angel investing models increasingly being adopted across Africa.
Beyond the awards, the competition is expected to play a broader role in energising Zanzibar’s entrepreneurial landscape, which stakeholders say still lags behind mainland Tanzania. By linking entrepreneurs to capital, mentorship, and networks, the initiative is seen as a step toward building a more vibrant and sustainable business ecosystem.
As Zanzibar continues to position itself as a hub for innovation and small business growth, initiatives like the business plan competition are expected to create new opportunities for entrepreneurs and contribute to inclusive economic development.
