The Tourism Finance Corporation will offer loans to investors to introduce new tourism products in Mombasa.

TFC CEO, Jonah Orumoi, said the corporation wanted investors in Mombasa to initiate new products such as amusement parks, aquariums, water fun parks and cruise boats.

He said, as the Kenya coast had more than 30 000 beds, tourism investors should not add more beds but instead come up with innovative products to drive tourist numbers. “Apart from leisure and conferencing, we want to see hotel owners introduce new products so that guests can have fun-filled holidays.”

Orumoi added that the corporation also aimed to support investors in Mombasa and Kisumu counties to construct floating restaurants and cruise boats that could take tourists to resort towns on the coastline.

He noted that this financial year, the corporation would offer loans to investors to the tune of KSh800 million ($7,76m) to establish innovative products.

For the next financial year, he said TFC had requested a KSh2,5 billion ($24,26m) funding from the National Treasury to be able to offer more loan opportunities to investors.

He noted that TFC would seek partnerships with banks willing to offer affordable loans to tourism investors as part of efforts to encourage hotel refurbishments and introduction of new products.

TFC chairman Patrick Osero, said: “Tourism Finance Corporation’s focus in our new strategic plan is on expanding the productive capacity of the industry, improving returns from existing investments and attracting new capital investment.”

He said the key focused areas included identifying and pursuing opportunities that created increased demand, promoting diversification of the tourism industry through opening of new regions.