Govt sets up $15m hotel fund
By Bridget Mananavire
Government has set up a $15 million loan facility for hotels to revamp, outgoing Tourism minister Prisca Mupfumira has said.
Speaking during a tour of the on-going $1,5 million refurbishments at Cresta Oasis in Harare yesterday, outgoing Tourism minister Prisca Mupfumira said in the past hotels have had challenges in meeting the 10-year mandatory requirement for hotels to refurbish and retool their establishments.
“But you have proved otherwise of late by undertaking major renovations here at Cresta oasis, Cresta Lodge, Cresta Churchill in Bulawayo and Cresta Sprayview in Victoria Falls.
“The ministry through RBZ set up a Tourism Revolving Fund of $15 million so that players can access funding on a business case basis and be able to revamp their properties and this is another window of support from government.
“Government has also put in place the following rebates that have been effective for some time: the SI 10 of 2018 which allows one to import capital goods duty free and the SI 159 of 2017 which allows you to import motor vehicles duty free.
“I urge you to take advantage of these facilities and further equip your establishments countrywide,” she said.
Cresta Hotels country director Chipo Mandela said they were expecting the refurbishments to transform the hotel into the most exciting venue in its specialised market field.
