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Tourism Sector Is Attractive For Foreign Direct Investment

first_imgCEOs Know Campaign: Tourism Sector is Attractive for Foreign Direct InvestmentTsabeng Nthite – “There is no other sector in the country that is showing 8% growth per annum,” says Mr Sisa Nthsona, Chief Executive Officer for South African Tourism.Commenting on the industry as a key driver for South Africa’s economy during his interview for Brand South Africa’s CEOs Know campaign, Mr Ntshona said that the tourism sector accounts for 9% of South Africa’s GDP, and an estimated 8.5 % of the continent’s GDP, (up from 6.8 per cent in 1998).Mr Ntshona said: “From a business and development perspective tourism is a significant contributor – which in turn translates to job creation. 2016 was a record-breaking year, with 10 million international tourists coming to South AfricaSouth Africa is best known for its beach and safari holiday experiences. Stunning as the coastline and the game parks are, there is plenty more on offer to tourists, both in South Africa itself, and in the wider Southern African region. Ntshona says however that ‘South Africa is more than just the 3 Bs (the beach, the berg and the bush),’ – stating that the country’s secret weapon is its diversity and people.“I am constantly inspired about how South Africa fights above its weight. South African’s are ambitious, driven and passionate people. We are a diverse people who love out country, and our space and we want to share our hoe with the world for them to be part of our ever growing story,” concluded Ntshona.And it’s not just South Africa – the entire continent is set for a tourism boon. Speaking at the launch of Indaba in 2017, Africa’s top travel trade show, Ntshona predicted that Africa would be the new tourism frontier. He reported that the continent had an 8% surge in international arrivals in 2016, with Sub-Saharan Africa increasing by 11% and South Africa by 13%.Would you like to use this article in your publication or on your website? See Using Brand South Africa material.last_img read more

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FIFA World Cup 2018: Player to watch – Diego Costa

first_imgAdvertisement AdvertisementDiego da Silva Costa, born on 7 October 1988, is a Brazilian born striker who is currently plying his trade for the Spanish national team. At club level, Costa plays for La Liga giants Atletico Madrid in his second stint after enjoying a three seasons stay at Chelsea. A striker who contains a strong mentality and tempering mindset on the pitch is one of the most feared players in the opposition box.Costa began his international career with Brazil in 2013, appearing only twice for the Selecao in friendlies against Italy and Russia. But during the same year after consideration from the Spanish FA, Diego got approval to change his nationality and to play for Spain. His actual international debut came against Italy but with La Roja. However, Costa faced embarrassment with the national squad in a group stage exit from 2014 FIFA World Cup in Brazil.He will be wanting a reversal this time as his seven goals for the Spanish Armada shows a growing sense of goal scoring hunger as the preparation for his second World Cuplast_img read more

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Satellite operator Eutelsat saw a 2 likeforlike

first_imgSatellite operator Eutelsat saw a 2% like-for-like drop in video revenues in the six months to December to €455.4 million, contributing to an overall drop of 0.9% in revenues to €755 million.EBITDA dropped by 2% to €588 million. Net income rose by 2.2% to €192 million for the company’s fiscal first half.The company said that its broadcast video business was stable on the back of additional capacity being available via Eutelsat 8 West B for the MENA region and Eutelsat 36C for sub-Saharan Africa, offsetting the rationalisation of capacity at the core Hotbird position and lower revenues from French free-to-air platform Fransat.Eutelsat’s order backlog declined by 8% year-on-year and now stands at €5.3 billion. Video represents 84% of the total.Overall, the company’s results were better than expected, and Eutelsat confirmed the forward revenue objectives it set in July. These forecast a full-year revenue decline of between 1% and 3%, with flat revenue in 2017-18 and a modest return to growth for the following year.The company also said it expected its EBITDA margin to reach up to 77% for 2018-19, as opposed to the above 75% expectation previously announced.CEO Rodolphe Belmer said: “First Half revenues were in line with expectations, and we are on track to reach our current and three year objectives thanks to a solid commercial performance. We are also on target to deliver on our commitment to reduce capital expenditure, notably thanks to the highly effective application of ‘design-to-cost’ for satellite procurement.”Belmer highlighted the company’s LEAP cost-savings plan, aimed at generating €30 million in annualised savings by 2018-19, contributing to the group meeting its free cash-flow targets and enabling it to raise its EBITDA margin outlook.He also said that broadband was making strong progress, with a number of new contracts being sealed.While fixed data and government services revenue fell sharply, Eutelsat saw strong growth in fixed broadband and mobile connectivity as well as other revenues.last_img read more