R3bn earmarked for investment in Mpuma

Friday, February 25, 2011

Skukuza - Local and foreign investments of around R3 billion were earmarked for Mpumalanga during the international Africa Tourism and Infrastructure Investment Summit held in Skukuza this week.

The investments carry the potential of creating 100 000 new jobs in the region.

"During the summit, investors have registered to follow up discussions on key projects in the province," said chief executive of the Mpumalanga Tourism and Parks Agency (MTPA), Charles Ndabeni.

"Some of these projects have received potential investment of about R3 billion, which might lead to about 50 000 to 100 000 jobs being created in Mpumalanga."

He said about 15 tourism projects in the province would be revamped and that greater attention will be given to drawing domestic tourists to the region. "Tourism must start with the locals and the rest of the world will follow," he said.

Deputy Minister of Tourism in South Africa, Tokozile Xasa, said the summit provided a good opportunity for South Africa to draw investors soon after the end of the 2010 FIFA World Cup.

"We hope that after this summit more investors will see opportunities in the country and help us combat unemployment," she said.

She said job creation for locals was the main focus when considering tourism infrastructure.

Hayan Merchant, chief executive of the Dubai-based real estate, tourism and hospitality company Ruwaad, noted that government needed to fully commit to tourism initiatives and understand the risks taken by investors to assure investors that their money would not be wasted or misused.

"Government stability and strength will lead to huge investment coming in," said Merchant.

The summit was held in the Kruger National Park and hosted by Africa investor (Ai), a leading international investment research and communications group.

"African tourism has the potential to not only generate major investment returns but also create jobs," said Ai vice chairman and managing director Hubert Danso. "We are pleased to say that we have raised awareness of the many investible project opportunities that are currently available on the continent."

Possible investors were expected to spend the whole week in the country, specifically Mpumalanga, to inspect potential areas for investment.