Africa’s Tourism Industry Could Create 6.7 Million Jobs

Written by  |  Thursday, 14 November 2013 00:00  |  Published in BUSINESS TOURISM

SUB Saharan Africa’s tourism industry is set to spur more economic growth for the continent and directly employ 6.7 million people by 2021, according to a new World Bank report released recently.  The report, Tourism in Africa: Harnessing Tourism for Growth and Improved Livelihoods, says that tourism accounted directly or indirectly for one in every 20 jobs in Sub Saharan Africa in 2011, and is one of the few industries on the continent in which women are well represented as employees and managers. Sub Saharan Africa is outpacing other regions in tourism growth. The report examines the potential of African countries to improve and expand their tourism sector, and suggests that 33 of Sub Saharan Africa’s 48 countries currently have the capacity for tourism success through establishing strong political support for developing the industry and attracting increased private investment to help finance and sustain it. The report cites successful examples of countries including Cape Verde, Kenya, Mauritius, Namibia, Rwanda, South Africa,

Tanzania and others, who have simplified their tourism policies, liberalized air transport and diversified tourism while protecting their communities and environments, which created a positive investment climate for tourism development.

Coscharis brings Sixt car rental to Nigeria

Written by  |  Thursday, 14 November 2013 00:00  |  Published in BUSINESS TOURISM

Coscharis Motors and German car rental firm, SIXT A.G, have entered into a new partnership aimed at improving tourism and the logistic activities in the country through a car rental, vehicle lease and haulage business. The partnership will raise the stakes for service excellence and maintain market leadership in the mobility service sector by delivering best value in terms of pricing, fleet quality, service, which ensures SIXT Nigeria’s long-term growth and commensurate returns to all stakeholders. Josiah Samuel, group managing director of Coscharis Group, said Coscharis Group as a franchise partner is known for many years of experience and excellence in service with the vision of making SIXT the number one car rental company with a difference in years to come. “SIXT Nigeria will not only provide service, but will also see to the growth of the clients business as working as their partners. It drives through this road of success, we will anchor our strength on the unbeatable support and friendships of SIXT headquarters staff,” he said.

‘Abuja is ready to host the best int’l trade fair ever’

Written by  |  Thursday, 14 November 2013 00:00  |  Published in BUSINESS TOURISM

Q:Sir, how prepared is ABUCCIMA for this year’s Abuja International trade fair?

We have been working round the clock to ensure that we have a very good fair this year and as far as the preparation goes, unlike previous years when we were making exhibitors construct temporary wooden stands, this year we have placed orders for purchase of exotic exhibition tents from China, together with 156 shell skins and then some other smaller exhibition tents.

Aside from that, our marketing team is embarking on very vigourous marketing of the fair. We have sent out invitations for participation to various state governments, cooperate organisations, individuals and various embassies within the country and so far we are receiving responses fromprospective participants. Some of them are from Taiwan, China, India, Germany, Turkey, Ghana, Senegal, Parkistan and many West African Countries. The responses have been very encouraging and this year we are very sure that it will be a full outing.

Nigeria House of Reps to review BASA Agreement

Written by  |  Thursday, 07 November 2013 00:00  |  Published in BUSINESS TOURISM

The House of Representatives has directed the ministry of aviation and its parastatals to urgently conduct an audit of all Bilateral Air Services Agreement (BASA) entered into by Nigeria with a view to domesticating them. The House took this decision after considering a motion moved by Hon. Yacoob Bush-Alebiosu (APC, Lagos) on the need to review the BASA signed on behalf of Nigeria. Leading the debate on the motion, the lawmaker noted that Nigeria was not benefiting as much as it should for such agreements, as local airlines were being run out of business by the activities of foreign airlines. Arguing that BASA was founded on the principle of reciprocity and a deal that enables a country’s airline to have equal leverage with the other ones, he expressed worry that the reverse was the case with Nigeria as “it seems to be more of a curse to the growth of our aviation sector”.

Access Bank earmarks N3 billion to boost tourism sector

Written by  |  Monday, 04 November 2013 00:00  |  Published in BUSINESS TOURISM

Access Bank Plc has earmarked N3 billion to support the hospitality and tourism sector in Nigeria. This was disclosed by the Executive Director, Business Banking Division, Obeahon Ohiwerei at the Bank’s Power Breakfast Series for Travel Agencies and Hospitality Sector, in Abuja. According to Ohiwerei, the board of directors of the bank had approved a N3 billion facility which would be accessed by players in the hospitality and tourism industries. This is to collaborate with operators in the sectors to aid their growth by providing small business customers with innovative incentives that are designed to enhance business efficiency. He said: “For any economic to grow, the SMEs must be vibrant and I don’t think any bank has deliberatively gone to that area to help develop it. So we, as a bank, given our success in the wholesales area and all that, are now ready to come into the SME space.”
He said the bank was ready to play in 13 business segments including focus on women-run enterprises. He said the bank would embark on massive capacity

Bauchi Invests on 120MW for Yankari Game Reserve

Written by  |  Monday, 04 November 2013 00:00  |  Published in BUSINESS TOURISM

Governor Isa Yuguda of Bauchi State on Friday said that the construction of the 120 megawatts Yankari power plant would start in two months’ time. The governor said this when the management team of SINOMAC, a Chinese energy and gas company, led by Alhaji Ibrahim Jidda, Special Adviser to President Goodluck Jonathan on Energy visited him in Bauchi. He said that the power plant, which was expected to run on gas, would be constructed by China Mechanical and Equipment Company (CMEC), adding that all arrangements had been made for the project to commence. Yuguda said that the construction of the plant had become imperative as part of the state government’s efforts to revamp the tourism sector via the improvement of the revenue potential of the Yankari Game Reserve.

Delta Airline Posts $1.2bn Profit In Q3 2013

Written by  |  Tuesday, 29 October 2013 00:00  |  Published in BUSINESS TOURISM

Delta Airlines, United States second largest carrier which also operates daily flights between Atlanta and Lagos, said during the week that its net profit for the September 2013 quarter was $1.2 billion, or $1.41 per diluted share, excluding special items. The airline says the result is a $444 million improvement year-over-year. According to a report released by the airline, including $157 million in special items, Delta’s GAAP net income was $1.4 billion, or $1.59 per diluted share. The company began returning capital to shareholders, with $100 million in share repurchases and $51 million in dividend payments. September quarter results include $249 million of profit sharing expense in recognition of Delta employees’ contributions to the company’s financial performance. “Delta generated $1.2 billion of operating cash flow and $627 million of free cash flow in the September 2013 quarter, and ended the period with adjusted net debt of $9.9 billion.

Traders Seek Talk With FG On Interest Rates, Import Policies

Written by  |  Thursday, 24 October 2013 00:00  |  Published in BUSINESS TOURISM

Traders under the auspices of Traders’ Rights Protection Initiatives have said they want a round table talks with the federal government on various issues affecting trading activities in the country especially on high interest rates and import policies. The group made the demand through its General Secretary, Mr. Anthony Okechukwu who spoke to news men during a business award organised by the association in Lagos. He said that despite the contributions of the trading community to the nation’s economy, traders have continued to suffer unduly due to high interest rates and unfavorable import policies. According to him, “Our greatest concern is the issue of borrowing money from the banks by the trading community; the interest rate is too high. At the moment, we are competing with foreigners who are also importing finished goods.

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