Cape Town set to host Tourism Investment Forum Africa, drawing hundreds of investors

Miller Matola, Millvest CEO and Tifa organiser.

Miller Matola, Millvest CEO and Tifa organiser.

Published Mar 27, 2024


Hundreds of tourism investors are expected to flock to Cape Town from April 10 to 12 for the Tourism Investment Forum Africa (Tifa).

In its second edition and in collaboration with World Travel Market Africa (WTM) and Brand South Africa, Tifa strives to foster business connections and engagement among stakeholders and decision-makers within the trade and investment aspects of the tourism ecosystem.

Speaking to The Star on Wednesday, Tifa organiser and CEO Millvest Advisory, Miller Matola, said the mobilising investment into the tourism industry, in either the host location or any other location that is participating, is bound to create jobs.

“We refer to Tifa as a global platform for local action.

“Tourism is one of the biggest employment creators. It can address employment problems not only in SA but also in Africa… So by bringing investment you are facilitating the creation of employment but you are also ensuring inclusive economic growth,” Matola said.

He said this ensured the facilitation of smaller enterprises, since tourism was made up largely of small to medium enterprises.

“So you facilitate the entry of those and the entry of women and the youth into the tourism industry,” Matola emphasised.

He said the forum was a pan-African platform that aims to facilitate investment into the tourism sector, especially intra-Africa investment.

“The forum also aims to profile and position destinations as investable destinations and that is why we bring Tifa investment promoters together with possible funders whether they are development finance institutions, private equity or venture capital companies with the intent to drive investment into destinations or into the private companies involved.

“The outcome that we would like to see is a meaningful connection between investors, project owners and ultimately we hope it translates into business and investment in those projects.

“We try to assist with capital raising for those projects and we hope that there will be meaningful and gainful outcomes.”

Matola added that with the theme for this year being "Tifa forging meaningful connections for Intra-Africa tourism investment," the conference, scheduled to take place at the Cape Town International Conference Centre, will feature investment opportunity showcases, policy presentations, discussions on trends and developments, expert panel sessions, and opportunities for site visits to different investment project locations.

Brand SA acting CEO Sthembile Ntombela said tourism was a critical building block for any nation’s brand identity and overall competitiveness.

“Positioning and profiling African locations and mobilising capital for the development of the sector, can only be in the interests of positive continental and national branding.”

“By working closely with ATW this year, we’re expecting an even larger turnout of eager investors, influential business leaders, multilateral organisations, and development agencies seeking sustainable projects in which to invest capital,” Matola said.

The Star

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