Recovery in SA economy vital for tourism – Basa

By Given Majola 4h ago

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THE recovery of the South African economy was critical for the improved bankability of the country’s tourism businesses, the Banking Association of South Africa (Basa) said yesterday.

In a presentation to Parliament’s portfolio committee on tourism yesterday, Basa said the recovery of the tourism sector was linked to the government’s administration of the Covid-19 vaccine roll-out, because this would stimulate the demand that would drive the sector.

The portfolio committee had invited Basa to speak about the banking sector’s funding facilities available to small, medium and micro enterprises (SMMEs) in the tourism sector; the qualifying criteria for these funding facilities; and the challenges experienced by tourism SMMEs in accessing the available funding.

Basa also dealt with the assistance provided by the banks to enable SMMEs to meet the funding requirements, and its suggestions on improving the…

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