The maiden edition of the Tourism Investment Forum Africa (TIFA) will present tourism as an engine for growing and developing African economies; thus, the need for sound and sustainable investments in the sector.
Miller Matola, CEO of Milvest and organiser of the Forum in an interview with Kojo Bentum-Williams for the VA Tourism Podcast stated that the main goal of the forum is to emphasize the investment and climate prospects and initiatives of the hosting location, specifically the Northern Cape.
Additionally, it aims to showcase projects and opportunities from other countries in the southern region and throughout the continent. This means that various countries will present their own projects and opportunities, while the host destination will also have a chance to do the same.
Matola added that, the choice of the Northern Cape as the host destination was influenced by its significant development in the energy sector, with over 60% of renewable energy companies located in the province.
Additionally, there are plans for the development of an industrial park, aviation park, special economic zone, and tourism infrastructure such as lodges and private sector projects.
The conference will span three days from June 7-9, featuring panel discussions on policy environments, investment opportunities, and site visits to locations like the Upington industrial park.
The event is also expected to bring together a diverse range of participants, including development finance institutions, banking institutions, private equity, and venture capital firms, as well as government representatives. The focus will be on promoting public-private partnerships to facilitate project financing and support the growth and development of tourism in Africa.
“We’ve reached out broadly to especially development finance institutions, banking institutions, even private equity and venture capital companies will be represented. We know that banks these days are a little bit risk averse, but we’ve invited banks and there will be a number of development finance institutions, Development Bank of South Africa and there will be also the Industrial Development Corporation. So those are the development finance institutions who will be well represented there, based on the nature of the projects that we are trying to develop,” Matola explained.
With the forum serving as a global platform for local action, it is anticipated to create a conducive environment for investment and contribute to the economic development of the tourism sector in Africa.
