Thebe Tourism Group acquisition a step in right direction: Minister Kubayi-Ngubane

Tourism Minister Mmamoloko Kubayi-Ngubane congratulates the newly appointed CEO of Thebe Tourism Group (TTG), Mr Jerry Mabena and wishes him and the TTG management team success in their new venture.

Mr Mabena and the management team successfully concluded a deal in which they acquired TTG assets in partnership with Future Growth Asset Management. TTG has a significant portfolio in tourism and related industries ranging from destination attractions, inbound and outbound tour operations, car rental, business tourism and foreign exchange to name but a few

“This is an exciting development which must be commended particularly in the current difficult COVID-19 period, when our sector is undergoing difficulties. This acquisition bodes well for the transformation of the Tourism sector at an ownership level and for the creation of a growing inclusive economy.

“As we embark on the rocky road to tourism recovery and ultimately growth, I wish them the best and express our support for their endeavour to propel the industry to greater heights,” said Minister Kubayi-Ngubane.

As the oldest black-empowered tourism group, Thebe Tourism Group continues to demonstrate its commitment to the transformation of our sector and the economy in general.

Source: Government of South Africa