A black economic empowerment (BEE) charter for tourism will benefit the industry, the Southern African Association for the Conference Industry (SAACI) said on Monday.
”More than 10 years into South Africa’s democratic dispensation, it is still sad that of all the tourism companies listed on the JSE, there is an average of only 6% BEE ownership.
”However, this BEE charter will set the way for change,” said Brian McDonald, national chairperson of the SAACI, in a statement.
Minister of Environmental Affairs and Tourism Marthinus van Schalkwyk announced the South African Tourism BEE Charter in Durban on Sunday.
Under this initiative, 30% of businesses in the tourism sector will be owned by blacks by 2014.
The SAACI said it is pleased that the charter will not target small businesses.
”It is heartening that the minister heeded concerns of possible negative effects on the tourism industry and announced that businesses with an annual turnover of less than R5-million will be exempted of this indicator,” said McDonald. — Sapa