Zanzibar President meets Prateek Suri, Africa’s richest Indian, in London

In a major move to position Zanzibar as a magnet for digital innovation and inclusive infrastructure, Zanzibar’s president, Dr Hussein Ali Mwinyi, held a private high-level meeting this week with billionaire Prateek Suri, founder of Maser Group, to discuss strategic investments in digital banking, social housing infrastructure, and national development financing.

The meeting, held in London, signals Zanzibar’s growing ambition to become a hub for fintech and affordable living. It follows Suri’s rapidly expanding footprint across Africa’s consumer technology and infrastructure sectors.

A central focus of the conversation was the possibility of issuing a digital banking license to one of Suri’s fintech vehicles, which would support cross-border payments, SME financing, and financial inclusion through mobile banking, especially for rural and underserved communities.

“Zanzibar is uniquely placed to leapfrog in the digital economy,” said Suri after the meeting. “With visionary leadership and the right digital frameworks, this country can become the fintech capital of East Africa.”

Also on the agenda was a social housing mega-project that would see Maser’s infrastructure arm, MDR Investments, collaborate with local authorities to develop thousands of affordable, sustainable housing units across Zanzibar and other urban centres. The goal: to close the housing gap while driving job creation and community renewal.

“This isn’t just about building homes,” Suri said. “It’s about building dignity, stability, and shared prosperity. Our vision is to deliver housing solutions that are beautiful, smart, and accessible to every Zanzibar family.”

Mwinyi’s government has prioritised urban development and digital inclusion as key pillars of its Vision 2025 Agenda, making this partnership a potential turning point in the nation’s economic story.

The billionaire, who recently made global headlines after Maser Group was valued at over $5 billion and listed as Africa’s 7th unicorn, is also looking to set up a regional family office base in Zanzibar to oversee his growing interests in fintech, mining, and smart infrastructure across East Africa.

“Africa is where the future is being built. And Tanzania, with its people, peace, and policies, is right at the centre of that future,” said Suri. “We’re not here just to invest. We’re here to listen, partner, and grow with Tanzania.”

With a personal net worth now estimated at $1.4 billion, Suri is the richest Indian entrepreneur in Africa and is increasingly seen as a new-generation investor reshaping emerging markets through purpose-driven capital and frontier technologies.

He added: “Tanzania has the energy, the leadership, and the ambition. We’re committed to working with the government to bring lasting impact, not just in tech, but in lives.”

 The meeting is expected to pave the way for memoranda of understanding and working groups in the coming weeks. Insiders suggest that a pilot phase for both the digital bank and the housing program could be launched by Q3 2025.

As Suri’s African expansion continues to draw international attention, this latest development places Tanzania on the map as one of the key destinations for sustainable investment and next-gen fintech innovation.