Tourism department reprioritises R540m for equity fund

Finance Minister, Tito Mboweni has delivered his budget speech. And the tourism sector was listening closely to see how it would be impacted. The Department of Tourism has reprioritised R540million over the medium term to establish the Tourism Equity Fund. #eNCA​ Courtesy #DStv403

JOHANNESBURG - The tourism industry warns it's making a painfully slow recovery from the COVID-19 lockdown.

The Tourism Business Council of South Africa CEO, Tshifhiwa Tshivhengwa, says the R540 million from the Department of Tourism, reprioritised over the medium term to establish the Tourism Equity Fund, will be of some aid.

His comments come on the back of Wednesday's budget speech.

"This a start, and the equity fund is much suited for those who want to expand their businesses and those who want to come into the industry," says Tshivengwa.

"We do hope that this fund can be raised," he says.

Tshivengwa goes on to say that he hopes there is an uptake of people who want to participate in the industry.

Watch the interview above for more information


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