Mrs. Abiola Adelana, Head, Tourism Department, Sterling Bank, states that the bank has planned an initiative to help bridge the tourism gap and create more value for tour operators.
Adelana made the announcement on Monday at the 17th AKWAABA Africa Travel and Tourism Market in Lagos.
She added that the bank initiative would also help to mitigate the impact of COVID-19, as the tourism industry had been severely impacted by the pandemic.
Beginning in the first quarter of 2022, the bank will make loans to practitioners in the travel and tourism industries, according to the official.
“Our main goal is to bridge the gap in the tourism space, so we have travel loans for tour operators and business owners in general; our goal is to add value for them.”
“We understand that most people are restricted due to a lack of funds; we are providing this loan at a very reasonable interest rate beginning in the first quarter of 2022,” she said.
“We have studied the industry and identified the needs; we want to create a product around the purchase of travel buses and tour company owners will be able to pay in installments; this is among other products we have.”
The official also revealed that the bank would be developing an e-commerce platform where industry players could join to gain access to millions of customers.
She went on to say that financial solutions to problems on the e-commerce platform could be offered.