The Sunday News
Roberta Katunga Senior Reporter
THE Reserve Bank of Zimbabwe is in the process of setting up a tourism revolving fund that will allow tourism players access to credit facilities meant for the improvement of their business. In a speech read during the awards ceremony for Sanganai/Hlanganani World Tourism Expo, at a Bulawayo hotel last night, RBZ Governor Dr John Mangudya said Government realised the need for a huge capital injection for the development of the country’s tourism sector saying the trade had been hampered by low investment.
“The terms of banks for long-term financing are quite prohibitive for tourism projects which tend to have long maturation periods. The solution to this situation is a national tourism revolving fund from which tourism businesses can access financing at reasonable rates and terms,” said Dr Mangudya.
Meanwhile, youths should take leading roles in developmental projects instead of waiting on the periphery so that they become active participants in shaping the future of the economy.
Addressing delegates at the Sanganai/Hlanganani Youth In Tourism Symposium in Bulawayo yesterday, Patron of Zimbabwe Youth in Tourism Cde Auxillia Mnangagwa urged the youths to be responsible in their determination to shape a better future for generations to come.
“Tourism is one of the key economic pillars of our nation and its growth is of importance to the Government and nation at large. The development and growth of this strategic economic sector hinges on the roles that the youths will take and on their involvement at all levels to policy development and implementation,” said Cde Mnangagwa.
She said the situation now required collective efforts by every citizen both young and old. Cde Mnangagwa said the United Nations World Tourism Organisation has placed the participation of women and youths in tourism high on the agenda with several initiatives in place.
“Platforms like this are vital as they help in nurturing and guiding young people to find their role in the development agenda,” she said. Speaking on the challenges faced by youths in tourism, Cde Mnangagwa said the availability of information on which decision making is based on was limited.
She challenged the responsible youth body to collect data that help others to develop.
“It is important that we identify and forge more networking opportunities for youths in tourism in order to share best practices and provide support to the youths. The major challenge has been resources for the organised youths to participate at international forums,” said Cde Mnangagwa.
