Popular US rapper Rick Ross has revealed that he is planning to invest a tune of $3.5 million( Sh8.1 billion) in real estate in Tanzania.
Ross at 45, who’s net worth is estimated to be $50 million mainly due to music, shared his plans to invest during a live interview with presenter Tanzanian, Omary Tambwe alias Lil Ommy.
On the show, Lil Ommy suggested iconic areas in the country which are potential investment opportunities. These include the commercial capital Dar es Salaam, Arusha and Zanzibar.
In response to the suggestions Ross said: I like being in water, however I’d like to be with people as well If I can spend $3.5 million, I’ll be able to create something truly amazing.
In the words of Rick Ross, his main business is to own numerous Wingstop restaurants across the US. The singer-songwriter said that, in addition to buying real estate properties, he also plans to travel to Mount Kilimanjaro and spend at least a week on the mountain.
“I have heard of Serengeti and Kilimanjaro all my life. as an artist as well as an entrepreneur and boss, it can take up to 10 years to figure out how for a trip to the top. I am at a point that I am in a position where I have the money to travel to Kilimanjaro and enjoy the view for one whole week.” He said.
Zanzibar is seeking investors to oversee and operate its nine islands located in Pemba and Unguja
In the last month, the Tanzanian government Tanzania issued a request for wealthy investors to manage and manage the nine island in Pemba and Unguja as part of continuous efforts to boost the economy and encourage the growth of its tiny islands into high-end activities.
The Zanzibar government via ZIPA, the Zanzibar Investment Promotion Authority (ZIPA) stated that their decision is based upon the necessity to diversify the market in order to attract investors. The government also highlighted that the islands’ small size are assets that could be used for the common good of investors as well as Zanzibaris alike.
In the words of director of the ZIPA director, investors have to put in huge amounts of money. They have until September 16th to submit details about their experiences and capacity to create projects.
He also said that potential investors must also demonstrate their capacity to manage and operate investment projects and financial capability, as well as skills and capacity to preserve the natural environment and biodiversity, as well as the cultural heritage of communities, and development.
The appeal to investors is coming at a moment where President Hussein Mawanyi has pledged to lure foreign and local investors who will work with the government to develop the Blue Economy of the Isles model.