Stanbic, Wilderness offer lifeline for SMMEs in tourism

The partnership, which was kick started when the two organisations signed a Memorandum of Understanding (MoU) recently, aims to address persistent challenges faced by local suppliers, especially around access to finance and market entry.

Officials revealed the MoU establishes a guaranteed-access financing arrangement under which Stanbic will provide commercial loans to SMMEs that have secured supply contracts with, Wilderness, which is an eco-tourism company.