Tourism Fund projects Sh8.05b revenue to boost Kenya’s tourism sector

JOSEPH NG’ANG’A-KNA 

The Tourism Fund has projected a revenue base of Sh8.05 billion over the next five years as it seeks to ensure sustainable financing for the development of the tourism sector.

Tourism and Wildlife Cabinet Secretary (CS) Rebecca Miano stated that the Tourism Fund has identified product diversification, capacity building, and skill enhancement as key action points necessary for positioning Kenya as a premier and preferred tourism destination. 

Speaking during the launch of the Tourism Fund’s Strategic Plan for FY2024/25 to FY2028/29, Miano noted that the blueprint serves as a roadmap to guide the organization’s operations for the next five years and aligns with Kenya’s Vision 2030 and the Bottom-Up Economic Transformation Agenda (BETA). 

“I am particularly gratified to note that the Tourism Fund’s 2024-2029 Strategic Plan is thoughtfully curated to position tourism as a key driver of sustainable growth and development in Kenya,” she said. 

According to the CS, the plan emphasizes the need for enhancing capacity-building initiatives to ensure the tourism and hospitality sectors thrive. “To that end, I am pleased that the Fund will fully invigorate the Ronald Ngala Utalii College in Vipingo, Kilifi County, Kenya’s second premier hospitality training institution,” Miano said. 

She added that the launch of a Tourism Training Revolving Fund—intended to provide financial support to workers and students in the sector and facilitate access to education and skills development—is a commendable first in the region. 

“Henceforth, the newly unveiled revolving fund will support programs that will, in turn, improve the quality of service in tourism and hospitality training institutions across the country,” Miano said, adding that this initiative will cultivate a culture that boosts competitiveness and enhances visitors’ experiences and immersions. 

The CS highlighted that the Tourism Training Revolving Fund is an innovative resource pool that will offer affordable loans to individuals working in tourism or studying courses related to tourism and hospitality. 

“By enabling access to skills development programs, the Fund will aid the expansion of a highly trained workforce that will transform Kenya’s competitiveness as a tourism destination, driving repeat visits and long-term sector growth,” Miano stated. 

Tourism Fund CEO David Mwangi said that their aim in implementing their strategic plan is to increase levy collections from Sh4.9 billion to Sh8.05 billion over the next five years. 

“One of the most critical aspects of the plan is resource mobilization. We have set a goal to raise an additional Sh3.4 billion in resources by the end of the strategic period.

This will require innovative approaches, strong partnerships, and efficient management of funds,” Mwangi said. 

He explained that they will work closely with stakeholders to ensure that these funds are directed toward projects that have the greatest impact on sustainable tourism development.

“Capacity building is another pillar of this plan. We recognize that a well-trained workforce is essential for the success of our industry. That is why we are committed to training 18,000 workers and managers in the tourism sector by FY2028/29. 

This will not only improve service delivery but will also create a more resilient and adaptable workforce,” Mwangi stated.

The CEO disclosed that for the Tourism Training Revolving Fund, the board has allocated a seed capital of Sh280 million for the Financial Year 2024/25. 

“We have allocated the funds to cater to diploma and certificate students undertaking studies in tourism and hospitality who are not covered by the Higher Education Loans Board (HELB),” Mwangi said.

Tourism Fund Board of Trustees Chairman Samson Some emphasized that the Board is particularly focused on ensuring good governance and accountability in all the Fund’s activities.

Some noted that partnerships and linkages are also at the core of their strategic plan, as they cannot achieve their vision in isolation.

“We must continue to work closely with the private sector, local communities, international partners, and all stakeholders who have a vested interest in tourism.

Strengthening these relationships will allow us to collectively address challenges and leverage new opportunities,” Some stated.