No takers for $15m RBZ tourism facility

No takers for $15m RBZ tourism facility
Published: 28 February 2018 (517 Views)
The $15 million Tourism Revival Fund facility availed by the Reserve Bank of Zimbabwe to prop up the collapsing industry has been lying idle with the industry's players unaware of its existence, an executive with the bank has said.

Last month, RBZ launched the facility to help the tourism sector renew its product and entice new players.

RBZ deputy director for financial markets William Manimanzi told participants at the National Tourism Sector Strategic Consultative workshop held at Chinhoyi University of Technology yesterday that there were no takers for the facility.

"The RBZ availed a loan facility of $15 million for players in the tourism sector that was meant to be disbursed through commercial banks. Unfortunately there were no takers. May be this was due to lack of publicity by associations in the tourism sector," Manimanzi said to the surprise of the stakeholders present.

The loan facility, which is demand-driven, attracts an interest rate of 7,5%, repayable within 12 months with a capital expenditure of 36 months.

"We have joined Zimbabwe Tourism Authority and hotel and leisure industry players to publicise and market this facility. Additional funding will be availed once this facility is exhausted," Manimanzi added.

The workshop, held under the theme, Unlocking the Development Potential of the Tourism Economy, was meant to come out with a strategic plan for the recovery of the tourism sector and usher tourism as an economic driver.

The workshop was officially opened on behalf of Tourism and Hospitality Industry minister Priscah Mupfumira by Mashonaland West Provincial Affairs minister Webster Shamu.

The sector in Zimbabwe is expected to grow by more than 20% in 2018, thereby surpassing the annual global tourism growth and regional growth forecast of 4–5% and 5,5% respectively.

Tourism experts said the envisaged positive performance of the tourism industry in Zimbabwe is expected to hinge on factors such as regional tourism growth trends, the new Victoria Falls Airport, improved destination image, new airlines, continued marketing efforts and destination awareness and improvement in the service delivery.

- newsday

Tags: RBZ, Tourism, Facility,
 0

You May Like These Videos

Comments

There are no comments.

Latest stories

Chamisa should stop spreading 'fake news'

by Knowledge Moyo | 22 June 2018 | 42 Views

Presidential elections 2018 ballot specimen

by social media | 22 June 2018 | 59 Views

Government to float $150m housing bond

by Staff Reporter | 22 June 2018 | 42 Views

Chaos at ZEC meeting

by Staff reporter | 22 June 2018 | 48 Views

Mnangagwa stop lying there is no democracy in Zimbabwe

by Khulani David Ndhlovu | 22 June 2018 | 43 Views

'He wants my pregnant wife'

by Staff reporter | 22 June 2018 | 34 Views

Mutsvangwa calls for CSOs to let bygones be bygones

by Stephen Jakes | 22 June 2018 | 50 Views

Appointment of Zimbabwe judges opens can of worms

by Staff reporter | 22 June 2018 | 49 Views

Nkosana Moyo's unorthodox campaign plan unpacked

by Tinashe Kairiza | 22 June 2018 | 48 Views

Maphosa seeks safe haven in Zimbabwe

by Staff reporter | 22 June 2018 | 53 Views

Parties, media to witness ballot paper printing

by Staff reporter | 22 June 2018 | 38 Views

Who is who on the Zimbabwe campaign trail?

by Staff reporter | 22 June 2018 | 48 Views

Chamisa promises to transform Zimbabwe

by Staff reporter | 22 June 2018 | 54 Views

Khama Billiat signs for Kaizer Chiefs

by iol | 22 June 2018 | 43 Views

Chitungwiza embraces internet freedom campaign

by Francis Tshabalala | 22 June 2018 | 34 Views

'She was never pregnant for me'

by Staff reporter | 22 June 2018 | 50 Views

Aspiring MP fails to find name on voters’ roll

by Staffr eporter | 22 June 2018 | 34 Views

Demo erupts days after Mnangagwa visit

by Staff reporter | 22 June 2018 | 45 Views

Primary elections were rigged but let's move on, says Mnangagwa

by Staff reporter | 22 June 2018 | 37 Views

Sleepless nights for Zanu-PF in Chiredzi West

by Staff reporter | 22 June 2018 | 35 Views

Double candidates to haunt MDC Alliance

by Staff reporter | 22 June 2018 | 38 Views

Political parties to sign peace pledge

by Staff Reporter | 22 June 2018 | 54 Views

Your mind is a garden, cultivate it

by Enos Denhere | 22 June 2018 | 40 Views

Transporters forced to bus people to Mnangagwa event

by Simbarashe Sithole | 22 June 2018 | 77 Views

PHOTO: Zanu-PF car crashes in Bulawayo

by Social media | 22 June 2018 | 112 Views

Zim opposition headed for yet another crushing electoral defeat

by Staff reporter | 22 June 2018 | 123 Views

fastjet to introduce Harare - Bulawayo flights on 2 July 2018

by Staff reporter | 22 June 2018 | 84 Views

Mliswa's 2 reasons why Mnangagwa will win

by Ndou Paul | 22 June 2018 | 155 Views

PHOTO: Somewhere in Bulawayo

by Social media | 22 June 2018 | 81 Views

Mugabe party blames Zanu-PF for violence

by Simbarashe Sithole | 22 June 2018 | 96 Views

Only ED deserves your vote

by Dr Masimba Mavaza | 22 June 2018 | 79 Views

Bond notes 'a PR disaster' for Zimbabwe

by Staff reporter | 22 June 2018 | 88 Views

Don't bank on politicians' promises - Coltart

by Simbarashe Sithole | 22 June 2018 | 77 Views

Chiwenga tightens grip on Zimbabwe government

by Staff reporter | 22 June 2018 | 137 Views

Man caught pants down with father's wife

by Staff reporter | 22 June 2018 | 172 Views