Govt seek partners to grow tourism revolving fund

TENDAI BHEBE IN BULAWAYO 

Environment, Climate, Tourism, and Hospitality Industry Minister, Mangaliso Ndlovu has said the government is seeking partners to grow the tourism revolving fund.

Government launched the US$7.5m Tourism Revolving Fund targeted at supporting the upgrading and development initiatives post Covid-19.

But, Ndlovu, who spoke at the official launch of Sterling Bulawayo Hotel on Friday last week, said US$7.5m was not adequate, adding that the government “looks forward” to engaging potential partners and prospective investors to augment and capitalise the fund. This would see an increase in the threshold of operators benefiting from the fund, Ndlovu said.

“I am reliably informed that there are other investors who are seriously exploring other tourism opportunities within the greater Bulawayo and immediate environs. These include a combination of local and foreign investors,” he said.

He added: “I am further advised that as part of its innovative product offering, the Sterling Hospitality Group has invested in and will harness advanced technology as part of its broad strategy of levelling the information gap between large and small operators.

Ndlovu said Zimbabwe looks up to the tourism sector for employment creation, the development of new entrepreneurs, generation of foreign currency and the critical role the sector plays in economic value chains such as agriculture and transport.

He said the government has also come up with other various ways to revive the tourism industry such as the extension of the duty-free rebate for capital goods and the retention of foreign currency, which has since been reviewed downwards as outlined in the recent Monetary Policy.

Nldovu said tourism recovery is anchored on the implementation of the National Tourism Recovery and Growth Strategy, which seeks to grow the tourism economy to US$5bn by 2025.

President Emmerson Mnangagwa in August 2020 launched the tourism growth plan as he led the restart of the sector’s contribution to the national economy after having been heavily crippled by the outbreak of the Covid-19 pandemic.

Sterling Group of Hotels has invested about US$6m in the tourism and hospitality industry.

The hotel group currently has three properties, encompassing a premium 14-roomed boutique hotel in Borrowdale, Harare, another 28-roomed hotel with 18 villas and a conference centre in Mvurwi and the new 62-roomed hotel in Bulawayo.

Sterling Hotels managing director, Shaurai Manyika said: “The journey to where we are today has not been smooth but with invaluable support, here we are. As an upcoming group of hotels, we commit to play our part and make our contribution towards the achievement of industry targets towards the attainment of the NDS1 and Vision 2030.”