Page 51 - TKZN Annual Report 2023/2024

KZN Small Tourism Projects Support
TKZN undertook to provide support for small SMME tourism projects, focusing on existing tourism projects with the aim to enhance their businesses to improve competitiveness. The call for project proposals closed on 15 January 2024. As many as 98 proposals were received, screened and evaluated by the responsible internal committee against the programme’s eligibility criteria, in February and March 2024.
The business proposals recommended by the committee were visited and interviews were conducted, and only 20 successful beneficiaries were eligible, and the SCM procurement process for products and services for these businesses is underway. The beneficiaries range from accommodation owners, attractions, tourist guides, tour operators, event venues, and arts and craft providers.
Tourism Investment Projects
During the review period, TKZN participated in the Tourism Investment Forum Africa and presented eight major tourism investment opportunities which the organisation had assisted with planning. As a direct consequence of this initiative, opportunities were activated through the Small Enterprises Finance Agency (Sefa). Two project owners were engaged for further discussion as they drew interest from potential funders.
AFSIC – Investing in Africa Potential Investment
TKZN, through an MOU with Africa Investment Expo (AFSIC) dashboard, aims to match African investment opportunities with regulated institutional investors who enjoy a mandate to invest in Africa. Two projects attracted interest during the review period and negotiations with investors are currently at an advanced stage. Identified projects include the Shongweni Game Reserve and Woodstock Dam Resort.
LINKING PERFORMANCE WITH BUDGET
PROGRAMME
2022/23
2023/24
Tourism Development
Budget
Actual Expenditure
Variance
Budget
Actual Expenditure
Variance
R’000
42 818
12 184
30 634
32 075
10 750
21 325
Measurable objective
Programme Performance indicator
Annual Target (APP) 2022/23
Actual Performance
Variance
Comments
Number of destination development interventions
Number of tourism product development plans completed
3
2
1
Development plans were discontinued and not approved as per the Board resolution.
Number of interventions (product/experience improvement) facilitated in support of existing tourism products
2
0
2
Both projects have experienced construction delays. However, the entity is busy trying to remedy the situation together with all interested parties.
Number of new tourism experience offerings facilitated and implemented
2
0
2
The entity recently introduced a more inclusive approach through the projects support programme to benefit more rural and township based projects.
Number of targeted interventions for black tourism businesses
Number of tourism investment support activities facilitated
4
4
Nil
Achieved
Number of small black-owned tourism enterprises supported
100
149
+49
Over-achievement is due to the interventions that benefitted the SMMEs in collaboration with other government institutions.
TOURISM KWAZULU-NATAL ANNUAL REPORT 2023/2024 49