Latest news with #MECforEconomicDevelopment
IOL News
13-05-2025
- Business
- IOL News
Durban to flex its tourism muscles as current Africa's Travel Indaba contract reaches a conclusion
Ethekwini Mayor Cyril Xaba, KZN Tourism Board Chair Sbusiso Ndebele, KZN Tourism Acting CEO and Film Authority Sibusiso Gumbi, and MEC for Economic Development, Tourism, and Environmental Affairs Rev. Musa Zondi during a walkabout at Africa's Travel Indaba at the Durban ICC. Image: Picture: Tumi Pakkies/ Independent Newspapers The vibrant city of Durban has once again welcomed delegates from across the continent as Africa's Travel Indaba officially commenced at the Durban International Convention Centre (ICC). This year's event was graced by high-profile dignitaries, including the Deputy President Paul Mashatile, the Minister of Tourism Patricia de Lille, KwaZulu-Natal Premier Thami Ntuli and the KZN MEC for Economic Development. They were joined by Tourism and Environmental Affairs Reverend Musa Zondi, Durban Mayor Cyril Xaba, and South African Tourism CEO, Nombulelo Guliwe, who all converged to highlight the importance of tourism in driving economic growth. Durban has hosted the Indaba, South African Tourism's flagship annual event, for over three decades, solidifying its position as a key player in the continent's tourism landscape. With the current contract to host the Indaba concluding this year, the city is keen to demonstrate its value as a dynamic investment hub ready for business. Addressing delegates, Xaba declared: 'Durban is more than just a destination; it is a gateway.' He added that this year, they are projecting significant achievements, with expectations to exceed last year's figures by welcoming over 9,600 delegates and generating approximately R232 million in direct spend, injecting an anticipated R575 million into Durban's local economy. 'These numbers are not mere statistics,' Xaba emphasised. 'They are a powerful endorsement of tourism as a key driver for economic transformation in the city and the province.' This year's event is themed 'Unlimited Africa", where the focus extends beyond tourism to encompass the intertwining of culture, commerce, and community. Reverend Zondi reaffirmed the province's commitment to positioning the Indaba as a permanent fixture within its borders. 'We remain hopeful and committed to ensuring that Africa's Travel Indaba becomes a signature event on the international tourism calendar,' he noted. Tourism is not just a buzzword - it stands as a cornerstone of South Africa's economy and plays a vital role in national and provincial development strategies. KwaZulu-Natal's strategic coastal location enhances its tourism potential, making the province a frontrunner in marine and coastal tourism, heritage routes, and blue economy innovations. Ntuli also took the platform to express pride in hosting the event. He emphasised Durban's pivotal role in global tourism, highlighting that in 2024, KZN welcomed 3.2 million domestic visitors and 620,000 international guests, generating over R2 billion in revenue. 'This didn't happen by chance. It was the result of sustained effort: in infrastructure, in marketing, in partnerships,' said Ntuli. Durban is bidding for a further five-year term to host Africa's Travel Indaba. The city and its leaders are lobbying earnestly to establish it as the permanent home for this prestigious event, underscoring the critical need to promote and showcase the continent's diverse tourism offerings. In a landscape where tourism can be a transformative force, Africa's Travel Indaba serves as a pivotal platform to unite stakeholders and innovate. As delegates share ideas and forge partnerships, the prospects for African tourism shine brighter than ever, setting the stage for an era of growth and opportunity.
IOL News
01-05-2025
- Business
- IOL News
Edtea MEC says closure of Ithala Bank would severely impact KZN's most vulnerable residents.
MEC for Economic Development, Tourism and Environmental Affairs (Edtea) Musa Zondi has emphasised the need for regulatory certainty to clarify the position of entities like Ithala SOC Limited. Zondi stated that the current challenges faced by the bank starkly contrast with the promises made by the country's parliament. He said, 'Most of the issues confronting this institution stem from its position in a regulatory gap—a gap that parliament can help close. The current version of the Financial Matters Amendment Act of 2019 excludes provincial entities from being licensed as banks. Zondi made the remarks while delivering his departments budget recently. 'However, parliament's own records indicate an intention to allow Ithala to continue operating under exemptions, pending further deliberations. What is needed now is not only regulatory certainty but also a major transformation exercise to ensure that Ithala SOC Limited continues to serve as a pillar of development, equality, and opportunity in KwaZulu-Natal and beyond.
