Asset Manager Futuregrowth has put its vote of confidence in the tourism industry by buying a significant stake in Thebe Tourism Group in South Africa. Although the sector has been one of the hardest hit during COVID-19, the properties owned by Thebe Tourism position it well for the industry’s inevitable recovery from the challenges it has faced.
mrish Narrandes, Head of Unlisted Equity Transactions at Futuregrowth said: “We believe strongly that the tourism industry will return to its former glory post-COVID and, given the quality of the assets of the group, feel Thebe Tourism is well-positioned to capitalise on the eventual resurgence of the sector. With a total GDP contribution of around 9% and over 1.5 million jobs supported, the tourism sector will continue to be an instrumental contributor to the South African economy.”