This news aggregator site highlights South African labour news from a wide range of internet and print sources. Each posting has a synopsis of the source article, together with a link or reference to the original. Postings cover the range of labour related matters from industrial relations to generalist human resources.
Bloomberg reports that the South African government has started a R1.2 billion fund aimed at reviving the country’s ailing tourism industry.
The Tourism Equity Fund will be used in particular to help black entrepreneurs start businesses and projects in the sector, Tourism Minister Mmamoloko Kubayi-Ngubane indicated on Tuesday. She advised that the funds will come from government, lenders and the Pretoria-based Small Enterprise Finance Agency. Tourism-dependent businesses have been particularly hard hit during the Covid-19 pandemic, with border closures and travel restrictions having prevented the usual flow of holidaymakers from Europe and elsewhere. President Cyril Ramaphosa said at the launch of the fund that under normal circumstances tourism accounted for 2.9% of SA’s economy and about 1.5 million jobs. “This is a sector that is labour-intensive, and therefore has immense job creation potential. It generates foreign-direct investment and significant export earnings. It stimulates and supports the development of small businesses,” he pointed out. The focus on black businesses is part of the government’s efforts to improve economic opportunities to those discriminated against during apartheid.
- Read the full original of the report in the above regard by S'thembile Cele at Moneyweb <https://www.moneyweb.co.za/news-fast-news/sa-starts-r1-2bn-fund-to-help-tourism-industry/>
Get other news reports at the SA Labour News home page