During the recently held Africa Hotel Investment Forum (AHIF), 14 Global Brand Hotels from Switzerland, the US and Dubai have expressed interest in investing in the Zambia hotel and tourism sector.
According to Jean Kapata, Zambia Minister of Tourism and Arts, the Government of Zambia is targeting a Public Private Partnership through the National Pension Scheme Authority (NAPSA) in an effort to keep some of the profits in Zambia.
“NAPSA will put up the infrastructure and then partner with the top hotel brands,” she said, “This will also create employment opportunities in the tourism sector by 2016.”
Hon. Kapata went on to indicate that the Government has created numerous incentives, exemptions and concessions for investors in the Zambian tourism industry including 0% tax on dividends, profits, and import duty during the first 5 years as well as differed VAT on machinery and equipment and no VAT on tour packages within the country.
The AHIF is the leading event in Africa for investment in the hotel and tourism sectors, bringing together more than 600 international CEOs, hotel owners and industry leaders to share knowledge and insights on how to best take advantage of the growth potential of Africa’s expanding markets.
