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Month: August 2014

Africa’s tourism challenges: policy, awareness and insight.

HANNA BARRY: On the line to chat about opportunities presented by the upcoming conference is Matšatši Ramawela, chief executive officer of the Tourism Business Council of South Africa. Matšatši, thank you for your time.

MATSATSI RAMAWELA: Well, thank you very much for the opportunity and it’s fantastic to be on Moneyweb this afternoon.

HANNA BARRY: Recently we’ve seen countries such as Liberia and Nigeria receive very bad press around the outbreak of the Ebola virus, what are some of the other major challenges that face the travel and tourism sector on the continent?

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Article Source: MoneyWeb

Capital is needed for any business to thrive and grow and it’s no different within the hotel sector – perhaps even more so. In order for hotels in the industry to have a competitive edge globally, constant upkeep and renovations are needed, as well as further investment into the hotel itself.

The question is how and where do you source capital for your hotel business?

While there are a variety of options available, the one most ideally suited for you will depend on how much capital you will initially require.

Bank loans and sovereign funds, including private equity, are the most common avenues in which to source capital for your hotel business. Be aware that each comes with its own pitfalls and benefits. So be sure to suss out which would be the best fit for your business.

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Article & Image Source: MONEYWEB

The World Bank has pledged financial support to Ghana’s government public-private partnership (PPP) initiative.

The Country Director for Ghana, Liberia and Sierra Leone, Yusufa Crookes, who made the pledge, said the bank was impressed Ghana could leverage private capital through the PPPs, which could be used to bridge the country’s yawning infrastructure deficit.

The monetary value of the deficit is currently estimated at US$7.5 billion over the next five years, and would require an annual investment of US$1.5 billion to be bridged, according to economists.

Given that budgetary allocations cannot meet that amount, Crookes said PPPs came in handy hence the bank’s decision to give the initiative its financial backing.

“Where you have a (PPP) process completed, a defined private sector investor identified and selected, they may need financing.

“We are standing ready, through the World Bank Group, to provide whatever financial products those investors might need to realise their ability to partner government in developing any specific infrastructure they may have been selected for,” he said during a conference.

C-NERGY Ghana, the local subsidiary of investment advisory firm, C-NERGY Global, in partnership with the Ministry of Finance, organised the event,.

A Director of C-NERGY Global Holdings, Michael Cobblah, indicated that the company was prepared to offer the technical expertise needed to ensure a smooth execution of PPP projects in the country.

The Minister of State responsible for Private Sector Development and PPP, Rashid Pelpuo, assured the participants that the government was in the process of providing the legal framework that would enable the private sector to partner public institutions in the provision of public infrastructure.

Article Source: allafrica.com

Uganda has a new top export earner. Tourism has for the first time become Uganda’s biggest export earner after it fetched $1.4bn in financial year 2013/2014, up from $1.1bn the year before, according to the central bank’s monetary policy statement for August.

Workers’ remittances, long the dominant sector when it came to calculating export receipts, has been knocked down to the second position, with coffee in third. Remittances, which is the amount of money Ugandans living abroad send home, was roughly $800m during financial year 2013/2014. Although the African Development Bank expects this figure to reach $1bn this financial year

Meanwhile, coffee, Uganda’s main traditional cash crop, earned about $415m for the period between April 2013 and March 2014, according to the Uganda Coffee Development Authority. Tourism was boosted by glowing reports of the country’s attractions among international tourism catalogues. Uganda is regarded Africa’s best destination for birders. The country boasts of more than 1,058 bird species, accounting for 11 per cent of the globe’s total, and half of Africa’s.

In 2012, a reputable online tour magazine, Lonely Planet, ranked Uganda number one among the top ten countries to visit. The journal said: “After all, this is the source of the river Nile – that mythical place explorers sought since Roman times. It’s also where savannah meets the vast lakes of East Africa, and where snow-capped mountains bear down on sprawling jungles.”

It added: “Uganda is Africa condensed, with the best of everything the continent has to offer packed into the small, but stunning destination,” it said.

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Article source: All Africa

Image Source: www.africa-ata.org