On June 25, 2025, the World Bank released its first-ever Comoros Economic Update — titled "An Ocean of Opportunities: Blue Economy as a Driver of Sustainable Growth." The report confirmed that Comoros' economy grew from 3 percent in 2023 to 3.4 percent in 2024, driven by household consumption, a 5.4 percent increase in remittances, and a strong services sector (World Bank, June 2025). More significantly, the report identified the blue economy — fisheries, marine tourism, and ocean conservation — as the most transformative opportunity for sustained growth in the archipelago.
Comoros is three volcanic islands in the Indian Ocean, halfway between Mozambique and Madagascar — a geographic position that gives it an Exclusive Economic Zone (EEZ) of approximately 160,000 square kilometres. Inside that EEZ swim yellowfin tuna, skipjack, and swordfish at commercial concentrations. The islands' coral reefs, whale sharks, and nesting sea turtles attract a growing stream of eco-tourists. The waters also hold untapped aquaculture potential — seaweed, oysters, and sea cucumbers — that regional markets in East Africa and the Middle East are actively seeking. For an entrepreneur starting a business in Comoros, the resource base is as visible as the ocean itself.
At a Glance: Starting a Business in Comoros
Nominal GDP (2024): USD 1.55 billion — all-time high (World Bank, 2024)
GDP Growth Rate (2024): 3.4% — driven by household consumption, services, and rising remittances (World Bank, June 2025)
Key Economic Sectors: Agriculture and fishing (50% of GDP), services (40%), blue economy (emerging), remittances (11.3% of GDP annual average)
Key Islands for Business: Grande Comore (Moroni), Anjouan, Mohéli
Exclusive Economic Zone: Approximately 160,000 sq km — a vast blue economy resource base
Key Business Licence: Registre du Commerce — Chambre de Commerce, d'Industrie et d'Agriculture des Comores (CCIAC)
Why the Blue Economy Creates Concrete Business Opportunities Now
The World Bank's June 2025 Economic Update states clearly that without bold reforms and private sector investment, Comoros' growth will remain fragile and poverty will persist. But it also maps three specific blue economy pathways where investment creates both economic return and ecosystem preservation: expanding fisheries, developing marine tourism, and scaling conservation-linked finance (World Bank, June 2025).
The fisheries opportunity in Comoros is the most immediately accessible. The EEZ already attracts industrial fishing vessels from the EU, Japan, and China under bilateral fishing agreements — but Comorian entrepreneurs capture almost none of that value. There is no cold-chain facility in Mohéli, the smallest island; Anjouan's fish market operates without ice; and the majority of reef fish caught by artisanal fishers in Grande Comore spoils before it can reach Moroni's restaurants. An entrepreneur who installs cold-chain infrastructure — even a modest 20-tonne cold store and an ice-making unit — can transform the economics of fish distribution on the island where they operate.
STAT: Comoros' Exclusive Economic Zone covers approximately 160,000 sq km — yet the country earns minimal revenue from it. Industrial fishing vessels from the EU, Japan, and China operate within the EEZ under bilateral agreements, while Comorian entrepreneurs capture almost none of the fish-processing value. A single cold-chain facility on Mohéli or Anjouan could be commercially viable within 18 months of operation. (World Bank, June 2025; FAO Comoros fisheries data)
Marine tourism is the second pathway. Comoros has whale shark aggregations off Grande Comore, humpback whale migration routes near Anjouan, and pristine coral reefs on Mohéli that are among the least-visited in the Indian Ocean. The Mohéli Marine Park — one of the few protected marine areas in the western Indian Ocean — hosts green sea turtle nesting that draws a small but high-spending stream of researchers and wildlife tourists. A boutique dive resort or a whale-shark snorkelling operator can generate revenue per visitor that exceeds the GDP per capita of the island within a single booking.
Comoros also produces cloves, ylang-ylang, and vanilla — three essential oil and spice commodities with premium export markets in France, the UAE, and the United States. Comorian ylang-ylang supplies a significant share of global perfume production, and ylang-ylang essential oil regularly sells at USD 20 to 40 per kilogram in international markets. Yet most of it is exported in bulk with minimal processing. A distillation and quality-grading facility that produces certified-organic ylang-ylang oil for luxury perfume houses could command two to three times the bulk commodity price for the same raw material.
Renewable energy is the enabling opportunity that underpins all others. Comoros imports diesel fuel to generate most of its electricity, making power both expensive and unreliable. Solar and wind energy on the islands are abundant. An off-grid solar business serving commercial premises, hotels, and community facilities reduces the single most significant operating constraint for virtually every other type of business on the islands.
STAT: Comoros' remittances averaged 11.3% of GDP over the past decade — a consistent and growing capital flow that demonstrates diaspora investor confidence in the archipelago's future. This remittance base, combined with the World Bank's June 2025 identification of blue economy as the growth engine, creates the clearest signal of near-term investment viability since independence. (World Bank, June 2025)
Market Demand, Growth and Statistical Evidence
Comoros' nominal GDP reached USD 1.55 billion in 2024 — its highest recorded level (World Bank, 2024). The World Bank projects growth of 3.8 percent in 2025 and 4.3 percent in 2026 (World Bank, 2025). The 2023 Country Economic Memorandum proposed that ambitious reforms could deliver a GDP per capita of USD 3,934 and reduce the poverty rate below 5 percent by 2050, compared to a business-as-usual scenario of USD 1,890 per capita and 22.9 percent poverty (World Bank, 2023).
|
Year
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Nominal GDP (USD Bn)
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GDP Growth (%)
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Key Driver
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2020
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1.09 (est.)
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-0.5 (COVID shock)
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Remittances maintained
|
|
2021
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1.18 (est.)
|
2.0
|
Recovery
|
|
2022
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1.28 (est.)
|
2.6
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Services and agriculture
|
|
2023
|
1.43 (est.)
|
3.0
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Household consumption, remittances
|
|
2024
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1.55
|
3.4
|
Consumption, remittances +5.4%, services
|
|
2025
|
~1.61 (proj.)
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3.8 (projected)
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Blue economy investment, consumption
|
|
2030 (est.)
|
~2.0
|
~4.0
|
Blue economy, tourism, fisheries
|
|
2035 (est.)
|
~2.5
|
~4.5
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Diversified blue economy + services
|
Sources: World Bank, Trading Economics, Banque Centrale des Comores. Forecast figures are industry estimates.
What Government Data Reveals for Investors
The World Bank's June 2025 Economic Update provides the most current and authoritative assessment. Key findings: GDP growth rose from 3 percent to 3.4 percent in 2024; average inflation declined from 8.5 percent to 5.0 percent in 2024 (reflecting stabilisation of global commodity prices); public debt rose to 36.8 percent of GDP, prompting an IMF and World Bank classification of high risk of debt distress; and poverty remains at an estimated 38.1 percent (World Bank, June 2025).
Foreign Direct Investment in Comoros averaged 0.6 percent of GDP in 2011–2020 — one of the lowest FDI rates in Africa (World Bank, 2023). This confirms that despite the natural resource opportunity, commercial investment has been largely absent. For first-mover investors, this means minimal competition in most sectors and a government that actively welcomes private capital.
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Indicator
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Value
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Source & Year
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Nominal GDP
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USD 1.55 billion
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World Bank, 2024
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|
GDP Growth Rate
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3.4% (2024)
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World Bank, June 2025
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GDP Growth Projection
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3.8% (2025); 4.3% (2026)
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World Bank, 2025
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|
Remittances (avg. % of GDP)
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11.3% (decade average)
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World Bank, June 2025
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Poverty Rate (2024 est.)
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38.1% (using $3.65/day line)
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World Bank, June 2025
|
|
Public Debt
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36.8% of GDP
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World Bank, June 2025
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|
FDI (% of GDP, 2011–2020 avg.)
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0.6%
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World Bank, 2023
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EEZ Size
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~160,000 sq km
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Government of Comoros / FAO
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Government Schemes, Incentives and Support Facilities
Comoros' government has aligned its investment incentive framework with the priorities of the National Development Plan, which targets GDP growth of 7.5 percent by 2030 — an ambitious target that requires significant private sector investment. The investment code provides corporate tax exemptions for qualifying enterprises in tourism, fisheries, agro-processing, and renewable energy. The government has also committed to regulatory reforms identified in the World Bank's Country Economic Memorandum, including improvements to the business registration process and land tenure security.
The blue economy focus of the June 2025 World Bank report has created a specific policy window: the government is actively seeking partners for fisheries cold-chain development, marine tourism infrastructure, and seaweed and aquaculture commercialisation. FAO's 2024 Hand-in-Hand Investment Forum featured Comoros investment cases in banana production expansion, industrial poultry, and fisheries — with a total investment target of approximately USD 50 million and projected IRRs of 19 to 23 percent (FAO, 2024).
Import–Export Opportunity for New Manufacturers and Traders
Comoros runs a persistent trade deficit: imports reached KMF 39,702 million in June 2025 against exports of just KMF 2,704.70 million (Banque Centrale des Comores, 2025). This chronic import dependency — driven by food imports, fuel, and manufactured goods — is the defining import-substitution opportunity for local producers. Every category of imported food that can be produced domestically — fish products, processed fruits, poultry, and packaged staples — represents a viable local business.
On the export side, ylang-ylang, cloves, and vanilla remain the primary export commodities with premium market potential. Value-added processing — certified-organic essential oils, premium vanilla extract, and clove oleoresins — can command three to four times the commodity price for the same agricultural output. France, the UAE, and the United States are the primary buyers; the diaspora Comorian community in Marseille and Paris is an accessible entry point for premium product marketing.
Major Businesses and Operators in Comoros
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Company / Operator
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Sector & Note
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Société Comorienne des Hydrocarbures (SCH)
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Fuel import and distribution; dominant infrastructure for energy supply
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Comores Telecom
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Telecommunications; mobile money services expanding to rural areas
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COLAS Comoros
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Construction and civil works; infrastructure contractor on major government projects
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Artisanal fishing cooperatives (all three islands)
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Fish supply for Moroni and Mutsamudu markets; scale-up potential with cold chain
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Ylang-ylang distillery cluster (Grande Comore, Anjouan)
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Essential oil distillation; 20–30 small operators; consolidation and certification opportunity
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Mohéli Marine Park (government / NGO co-managed)
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Ecotourism; turtle nesting site; conservation finance model for replication
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The Growth Horizon: Comoros to 2035
Under the World Bank's ambitious reform scenario — which projects per capita GDP of USD 3,934 by 2050 — the annual growth rate needs to average approximately 5.5 to 6.5 percent from 2025 onward (World Bank, 2023). The June 2025 target of 4.3 percent growth in 2026 reflects the early stages of this acceleration. If blue economy investments in fisheries cold chain, marine tourism, and aquaculture are implemented over 2025 to 2030, the productive contribution of these sectors to GDP could grow from a minimal current base to 8 to 12 percent of GDP — a transformative shift for a small island economy.
For entrepreneurs, the 2025–2030 window is the optimal entry period: government is supportive, competition is minimal, infrastructure (cold chain, digital connectivity, renewable energy) is being installed, and the World Bank's public identification of blue economy as the growth driver is attracting donor co-financing that reduces infrastructure risk for private operators nearby.
Practitioner Q&A: What Investors Need to Know About Comoros
Q1. Is Comoros' small market size a fundamental constraint on business viability?
The domestic market of 900,000 people is small, but the export opportunity — to East Africa, the Gulf, and Europe — is not constrained by domestic population. Fisheries, essential oils, and marine tourism all generate revenue from outside the islands. Comoros' position in the Indian Ocean makes it a natural export base for premium natural products targeting international markets.
Q2. What exactly is the blue economy, and which part is most accessible to a small investor?
The blue economy refers to economic activity derived from ocean resources: fishing, aquaculture, marine tourism, coastal construction, maritime logistics, and ocean-based renewable energy. For a small investor, cold-chain infrastructure for fish distribution, a dive tourism operation, or a seaweed cultivation pilot are the most accessible entry points, requiring USD 50,000 to 300,000 in initial investment depending on scale.
Q3. How do remittances create business opportunity?
Remittances averaging 11.3 percent of GDP represent a sustained inflow of foreign currency that finances household consumption — the primary driver of GDP growth in 2024. A business selling quality consumer goods, building materials, or services to remittance-receiving households is effectively selling to a customer base with a predictable income supplement from abroad. Real estate, retail, and food services businesses are the most direct beneficiaries.
Q4. What does the FAO investment forum data tell us about agribusiness returns?
FAO's 2024 Hand-in-Hand Investment Forum featured three Comoros investment cases — banana production expansion, industrial poultry, and fisheries aquaculture — with IRRs of 19 to 23 percent and a combined investment need of approximately USD 50 million (FAO, 2024). These returns reflect low competition, abundant natural inputs, and significant import substitution value. They also reflect the involvement of donor co-financing, which reduces the risk for private investors in co-investment structures.
Q5. Is the ylang-ylang business viable for a small operator today?
A small distillation unit processing 10 to 20 tonnes of fresh ylang-ylang flowers per season can be established for USD 30,000 to 60,000. The challenge is quality consistency and buyer certification — the luxury perfume houses (Chanel, Dior, Givaudan) that pay premium prices require ISO 9001 quality management and regular laboratory analysis. A cooperative that aggregates production from multiple small distillers and manages quality centrally can access this premium market while distributing raw material risk across members.
Q6. What are the main risks for an investor in Comoros?
Political instability (Comoros has had over 20 coups or coup attempts since independence), limited banking services, high import costs for capital equipment, and unreliable electricity supply are the primary operational risks. The World Bank's classification of Comoros at high risk of debt distress also signals limited government fiscal capacity for supporting investor incentives. Investors who build energy self-sufficiency (solar) and maintain robust working capital reserves manage these risks most effectively.
Q7. How does Comoros' diaspora community support new business development?
The Comorian diaspora — concentrated in France (Marseille and Paris) — is both a remittance source and a commercial partner. Diaspora investors have historically funded real estate and small retail businesses. A new business that engages the diaspora as investors, distributors, or marketing partners for premium Comorian products (ylang-ylang cosmetics, organic cloves, artisanal vanilla) can access distribution networks in French retail without the costs of building them independently.
Q8. Can a foreign company own 100 percent of a business in Comoros?
The investment code generally permits 100 percent foreign ownership. Land ownership by non-citizens is more restricted — long-term leases are the standard approach for commercial premises and aquaculture concessions. The investment code registration through CCIAC (Chambre de Commerce, Industrie, Agriculture et Commerce des Comores) is the standard entry mechanism.
Q9. What infrastructure is available for a food processing business?
Infrastructure is limited but improving. Moroni has a functioning seaport and international airport. Mobile connectivity is available across all three islands. Electricity is unreliable — businesses routinely operate their own diesel generators, creating high energy costs that are a strong argument for solar investment. Cold chain is essentially absent outside Moroni, which is simultaneously a constraint and the primary business opportunity for early movers.
Q10. Is the marine tourism sector competitive with established Indian Ocean destinations?
Comoros is not competitive with the Maldives, Seychelles, or Zanzibar on luxury resort scale. However, it occupies a different niche: affordable adventure and ecotourism for divers, naturalists, and researchers who actively seek destinations that are not yet overcrowded. A boutique lodge with 8 to 12 rooms targeting this demographic can operate profitably at much lower room rates than a Maldives-style resort requires, while offering experiences — whale sharks, turtle nesting, pristine reefs — that are genuinely differentiated.
Q11. What government support is available for a fisheries cold-chain investment?
The government's alignment with the World Bank's blue economy agenda means that cold-chain investments are explicitly supported under the investment code as qualifying agro-industrial projects. Donor co-financing through the AfDB, FAO, and World Bank is available for projects that meet development impact criteria — particularly those that demonstrate income improvements for artisanal fishers. A private investor who designs a cold-chain project to include artisanal fisher supply contracting can access blended finance structures.
Q12. What is the most important first step for an investor interested in Comoros?
Engage with the CCIAC in Moroni and request an introduction to the Ministry of Finance and Economy's investment promotion desk. Review the World Bank's June 2025 Economic Update and the FAO's 2024 Hand-in-Hand Investment Forum Comoros investment cases — both are public documents that map the specific investment opportunities and expected returns for fisheries, poultry, and banana production. These documents give you the government's own investment case for each sector and the donor co-financing contacts.
Practitioner Insight: The Ocean Is Comoros' Industrial Zone
Every other African economy has a finite land base for industrial development. Comoros has a 160,000 sq km ocean. Cold storage for fish, seaweed cultivation lines, dive tourism boats, and artisanal fish processing are industrial activities that happen on and near the water — and require minimal land. For a first-time investor with limited capital, the barrier to entry in Comoros' blue economy is lower than in almost any comparable natural-resource sector in Africa. The challenge is not capital — it is knowledge of the ocean resource and the markets that pay for what comes out of it.
The Bottom Line
The World Bank's June 2025 identification of Comoros' blue economy as the transformative growth driver — backed by GDP growth acceleration to 3.4 percent in 2024 and a projected 4.3 percent in 2026 — provides the clearest investment signal the country has had in decades. Remittances provide a stable consumer demand base; the EEZ provides an ocean of natural resources; and the government's alignment with donor-supported investment in fisheries, marine tourism, and conservation creates a co-financing environment that reduces first-mover risk.
The four most practical entry points are: cold-chain and ice-making infrastructure for fish distribution, ylang-ylang and clove essential oil upgrading, boutique marine tourism and dive operations, and off-grid solar energy for commercial and community customers. Each can be started at modest capital scale and scaled with earnings and donor co-investment.
Begin by downloading the World Bank's June 2025 Comoros Economic Update and FAO's 2024 investment case documents. Then contact the CCIAC in Moroni to arrange a government and sector introduction visit. Comoros rewards investors who arrive informed and with a specific, locally grounded business proposition — not those looking for a tax-haven or a blank canvas.
References
1. World Bank — Comoros Economic Update: An Ocean of Opportunities, Blue Economy as a Driver of Sustainable Growth (June 2025); GDP growth, blue economy framework, remittance data.
2. World Bank — Press Release: Comoros Blue Economy Offers a Transformative Path to Sustainable Growth (June 2025); poverty rate, fiscal data, growth projections.
3. World Bank — The Union of Comoros Country Economic Memorandum: Boosting Growth for Greater Opportunities (September 2023); long-term growth scenarios, FDI data, reform pathways.
4. FAO — Comoros (SIDS) Investment Proposal, Hand-in-Hand Investment Forum 2024 (2024); fisheries, poultry, and banana investment cases with IRR estimates.
5. Banque Centrale des Comores — Current Account and Trade Balance Data (2025); trade deficit, export and import values.
6. Trading Economics — Comoros GDP, GDP Growth Rate, and Current Account to GDP Series (2025); historical economic data and projections.
