Zimbabwe Establishes Tourism Fund to Boost Industry & Infrastructure
Zimbabwe Establishes Tourism Fund to Boost Industry & Infrastructure
The Tourism Act has created a dedicated financing mechanism to support the development and promotion of the tourism and hospitality sector in the country, according to local media.
Key Details:
🟠Administration: The fund is vested in the minister responsible for tourism as trustee and administered by a council comprising government, finance, legal, and industry representatives.
🟠Objectives: The initiative aims to facilitate tourism development, collect and disburse revenue per the national tourism plan, and develop tourism infrastructure.
🟠Funding Sources: Its resources will come from parliamentary appropriations, levies, donations, loans, and other approved forms of financial assistance.
🟠Governance: All money constitutes public funds and is managed under the Public Finance Management Act. The financial year ends December 31.
🟠Significance: The new mechanism provides a formal financing framework for national tourism priorities, though its impact will depend on resources mobilized and governance effectiveness.
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