South Africa: SATSA to facilitate tourism transformation of ownership project in the Eastern Cape
SATSA’s Access, Inclusivity and Diversity (AID) Committee, under the guidance of the SATSA Eastern Cape Chapter Chair, Mandisa Magwaxaza, has joined forces for good with a member association in the Eastern Cape to pioneer a Proof of Concept (PoC) that will become a blueprint for sustainable transformation of ownership within tourism.
“I am so proud to work with SATSA members who see and believe in the need for the South African tourism industry to evolve and become more representative of the country’s diversity throughout its ranks and roles,” says SATSA CEO, David Frost.
For this PoC, the SATSA AID Committee is facilitating the invitation to potential equity shareholders on behalf of a SATSA member that has expressed a deep-seated desire to see his business partner with young, black and female “tourismpreneurs” and hospitality professionals and invest in them through mentorship and coaching to enable them to have the best chances of succeeding as the new co-owners and operators of the establishment.
The SATSA AID Committee will facilitate this process and provide support and training through the TEF (Tourism Equity Fund) application and transition of the business. The PoC is being managed in collaboration with various private and public agencies who will be playing their own roles to ensure its success.
Potential equity partners are being invited to buy shares in a SATSA member’s 44-room establishment in the Eastern Cape. The hotel is located in a rural setting surrounded by adventure activities, mountains and the ocean. The current owner is looking for equity partners that can add value to the growth of the business as well as the destination. He is committed to staying on in an overseeing capacity and also train and coach his new business partners.
Those interested in the opportunity should click here to answer a survey, which serves as the first round of the application. After this, shortlisted candidates will be introduced to the owner and given more information about the establishment and asked to give a presentation showing how they could add value to the business.
Potential investors who are looking for something other than what described above are welcome to contact SATSA COO, Hannelie du Toit, on Hannelie@satsa.co.za.
We are heeding the Tourism Minister’s call to transform by working towards a blueprint that will foster sustainable business development, investment into people and benefit the immediate community through the creation of various income streams that are complementary to, but not solely dependent on tourism,” concludes Frost.