Namibia to benefit from N$1.3bn US-backed tourism fund

December 27, 2022 1797

Namibia is set to benefit from a US Agency for International Development (USAID) backed Africa Conservation and Communities Tourism Fund, led by investors and conservationists, which aims to raise N$1.3 billion (US$75 million) to fund safari operators across the continent.

The USAID has committed N$44 million (US$2.5 million) to reduce risks and jumpstart the fund, which is estimated would benefit 44,000 people, while working with safari operators in Namibia, Botswana, Kenya, South Africa, Tanzania, and Zambia.

The fund supports conservation-focused tourist organisations—wild-land and wildlife camps and safaris—in Sub-Saharan Africa and intends to preserve, protect, and enhance conservation practices, including hiring local staff, and sourcing materials from local communities.

The commitment by USAID comes as the United States during the recently held  US-Africa Leaders’ Summit has pledged some N$936 billion (US$55 billion) in funding over the next several years including to improve health infrastructure, promote green energy and stave off hunger.

The Namibian tourism sector according to research firm, Simonis Storm,  is expected to provide support to overall economic growth in 2022 following a recent rise in national occupancy rates and foreign arrivals.

Rate this item
(0 votes)
Last modified on Sunday, 01 January 2023 00:47

Joomla! Debug Console

Session

Profile Information

Memory Usage

Database Queries