Breaking News

'We are looking at fund-raising US$90 million' says tourism ministry

by Staff Reporter
20 February 2013 | 45 Views
TOURISM and Hospitality Industry Minister Walter Mzembi on Tuesday said his ministry was leading an aggressive drive to raise US$90 million to upgrade hotel infrastructure, retool and set up a revolving facility for the sector. Speaking

in an interview after touring Meikles Hotel's north wing, currently undergoing renovations, Minister Mzembi said Government, through his ministry, was facilitating the fund-raising in and outside Zimbabwe.

He said tourism, as the second best performing sector after mining, had endured the agony of zero fiscal support and expensive short-term loans from commercial funding institutions.

"We are on the market, within and outside the country. We are looking at fund-raising US$90 million. That has been our target for the last one year or so, to land US$90 million in our account," he said.

The minister would not discuss the final details of terms on which the funds would be borrowed or extended to beneficiaries. But said he had made "huge progress" towards securing the money.

The sector has continued to battle funding distress, despite the huge capital appetite ahead of the United Nations World Tourism Organisation General Assembly which Zimbabwe will co-host with Zambia next August.

Minister Mzembi is also yet to receive the US$12 million his ministry requested from Treasury to prepare for the UNWTO. Zambia received US$20 million from its Treasury to prepare for the event.

But Minister Mzembi said he remained optimistic that the funding would be secured from Treasury for the country to prepare for and host the UNWTO premier event in a uniquely African way.
"Our industry has survived by borrowing largely over the commercial counter.

"Now we are saying that the ministry/Government should lead the process to mobilise resources  for the sector. We are looking for resource parcels that can help our industry retool and re-kit," he said.

Meikles has already taken steps to ensure full preparedness for the UNWTO indaba and also tap into the numerous opportunities it believes will be presented by renewed growth in travel and toursm.

Meikles Limited, the holding parent of Meikles Hospitality, has made available US$8,5 million to refurbish, renovate and re-equip the hotel, a programme to be undertaken in two phases.

Managing director for Meikles Hospitality Mr Karl Snater said there had been many encouraging signs of growth in the sector.
He said he looked forward to increased interest in Zimbabwe as a tourist destination.

"Along with our colleagues throughout the sector, we look forward to increased interest in Zimbabwe as a destination for travellers of all kinds, especially at the upper end of the business and leisure markets, which is where Meikles is positioned as a first and natural choice," he said.

This will involve refurbishing 135 north wing bedrooms and bathrooms, extension of suite and club (for business people) facilities and upgrading the air-conditioning plant for north and south wings. In total, Meikles has 306 rooms, with the remaining ones to be covered under phase two.

Furthermore, the upgrades will cover replacement of north wing guest lifts, additional standby generators (350Kva), refashioning public areas and toilets, public areas, reception, coffee and kitchens.

The ongoing renovations at Meikles, which would result in new facilities such as new fittings in toilets and bathrooms, electrical (flat screen TVs), business work areas and lounge facilities, would also see the introduction of an all-new Presidential Suite and enlarged and new Imperial Suite.

Renovations for the initial phase, covering floors 10 to 12, is expected to be completed by end of next month. New exciting additions include new wine lists, new cuisines and presentation styles.

Mr Snater said Meikles and its industry partner, African Sun, had also set aside US$3 million for the renovation of their co-operated Victoria Falls Hotel before Zimbabwe hosts the UNWTO General Assembly.


Source: TH


News Updates


Latest News

Teenagers caused accident which killed 15 people - Three boys from Mud...

by Staff reporter | 29 November 2015 | 1441 Views

Skyz Metro FM to launch in January - Skyz Metro FM, which was licensed...

by Staff reporter | 29 November 2015 | 480 Views

Bev's wicked dance act scoops R25,000 in SA competition

by Staff reporter | 29 November 2015 | 1188 Views

'Grace Mugabe wants to secure future' - First Lady Grace Mugabe's grow...

by Staff reporter | 29 November 2015 | 1048 Views

Chief, war vets throw weight behind 11 besieged white farmers - Chief ...

by Staff reporter | 29 November 2015 | 1256 Views

Reverend rubbishes sodomy claims - Assemblies of Pentecostal Methodist...

by Staff reporter | 29 November 2015 | 564 Views

There is no war with war veterans - I found it of grave importance to ...

by Ministry of Truth with Cde Jason Zhuwao | 29 November 2015 | 507 Views

Inyanga jailed 14 years for raping five year old kids infecting them w...

by Stephen Jakes | 29 November 2015 | 1103 Views

ZEC sets 30 polling stations for Nkulumane by elections - The Zimbabwe...

by Stephen Jakes | 29 November 2015 | 600 Views

CAAZ embarks on recruitment drive - The Civil Aviation Authority of Z...

by Stephen Jakes | 29 November 2015 | 1074 Views

Mpilo to dispose property on December 4 - Mpilo Hospital which is cur...

by Stephen Jakes | 29 November 2015 | 898 Views

ZMC calls for renewal of mass media services certifacates and journali...

by Stephen Jakes | 29 November 2015 | 483 Views

Zimbabwe insurance firms accused of robbing policy holders - PENSION a...

by Staff reporter | 29 November 2015 | 1001 Views

Inmate rapes, kills jail guard - A prisoner at a Hurungwe prison in Ma...

by Staff reporter | 29 November 2015 | 2491 Views

Zanu-PF MP wants birth control for men - Shamva South MP, Joseph Mapik...

by Staff reporter | 29 November 2015 | 1006 Views

Chinamasa's national budget a damp squib- MDC -  The MDC has dis...

by Stephen Jakes | 29 November 2015 | 581 Views

Tuku, Zahara divide Harare - THIS week, two high profile South Africa...

by Staff reporter | 29 November 2015 | 1159 Views

Who are the Soccer Stars? - CONTROVERSY and the Soccer Stars of the Ye...

by Langton Nyakwenda & Ishemunyoro Chingwere | 29 November 2015 | 984 Views

Bulawayo mayor to commission solar traffic lights - Bulawayo Mayor Mar...

by Stephen Jakes | 29 November 2015 | 748 Views

Spurned man demands lobola back - A DISGRUNTLED Bulawayo man who could...

by Lungile Tshuma | 29 November 2015 | 1101 Views

Second-hand car import volumes plummet - SECOND-HAND motor vehicle imp...

by Staff reporter | 29 November 2015 | 1441 Views

Driving licence tests high failure rate torches storm - AN alarming nu...

by Staff reporter | 29 November 2015 | 1555 Views

Visually impaired prosecutor cries foul - THE traditional symbol of ju...

by Richard Muponde | 29 November 2015 | 643 Views

Zanu-PF goes overdrive to claim Nkulumane seat - THE Zanu-PF campaign ...

by Staff reporter | 29 November 2015 | 487 Views

Accused's mum hurls insults at court officials - A WOMAN went berserk ...

by Fairness Moyana | 29 November 2015 | 640 Views

Omega Sibanda vows to hit ground running - THE candidate for the Zifa ...

by Staff reporter | 29 November 2015 | 759 Views

Cuthbert Dube and co to pay back $22 million to PSMAS - EX-PREMIER Ser...

by Staff reporter | 29 November 2015 | 795 Views

Ministry awaits bonuses payment dates - CIVIL servants must not panic ...

by Staff reporter | 29 November 2015 | 1028 Views

Danai Gurira talks about growing up in Zimbabwe - UNITED STATES-based ...

by Staff reporter | 29 November 2015 | 519 Views

Shun tribalism, says Mphoko - THE Zanu-PF Bulawayo Province on Friday ...

by Staff reporter | 29 November 2015 | 574 Views


DJ Sticha produced a scintillating hit track for Team Bulawayo

by Stephen Jakes | 29 November 2015 | 575 Views

Bob Marley family confront Zimbabwe Music Awards

by Bongani Ndlovu | 25 November 2015 | 4600 Views

WATCH: Late Night show's analysis of Zanu-PF factional battles - LATE ...

by Staff reporter | 24 November 2015 | 2997 Views

Pregnancy won't stop me from flying, says Sandra Ndebele

by Bongani Ndlovu | 24 November 2015 | 4629 Views

Frustrated Hosiah Chipanga dumps Zimbabwe

by Staff Reporter | 24 November 2015 | 5818 Views

Miss Rural Goromonzi Crowned - It was a day to remember for the Goromo...

by Stephen Jakes | 24 November 2015 | 1853 Views

Heavily pregnant Sandy delays flight for an hour

by Staff reporter | 23 November 2015 | 8522 Views

Tb Joshua Worst Enemy Angelique Tonge Exposed

About two years ago, we came out emphatically about those behind the t.b joshua watch. many were those who thought we were framing innocent people up or on a witch hunt. some events have vindicated us and the cat is out of the bag. it is said that no... Read More
pointblank 01 May 2015 ago

What To Look For In Video Converter Software

looking for the best video converter software? you have to compare different video converters before making a purchase.the ability to watch video on different types of devices is a wonderful thing. not so wonderful are the compatibility issues that ... Read More
Sergey 19 June 2015 ago