THE Tourvest group’s new status as South Africa’s largest black-owned tourism group will open new opportunities for development and expansion for the company and give it the ability to lead the transformation of the South African tourism industry, chairman Robert Gumede (pictured here), said at Tourvest’s launch function in Johannesburg last week.

Tourvest was acquired last year by a Broad Based Black Economic Empowerment (BBBEE) consortium led by Guma Tourism in partnership with Old Mutual Private Equity, the IDC and management. Gumede, who founded Guma Tourism in 1996, said his consortium saw great potential for Tourvest and would be making a substantial contribution towards its success. “Through our BEE credentials and our entrepreneurial business acumen, we are well positioned to help Tourvest identify new investments within the African continent and to grow these organically. This, in turn, will help enhance Tourvest’s ability to add value to its offering through its purchasing power, advanced technology, leading-edge product development, size and spread.” The transaction came as Tourvest was consolidating its recent expansion strategy, which has seen the steady growth of its existing businesses as well as the diversification into new international and local market sectors. At the same time, Tourvest has also been putting in place its plans to participate in the 2010 World Cup and positioning itself to take full advantage of the double-digit growth in overseas tourist numbers expected after 2010 from traditional source markets including Europe, the United Kingdom, the Americas, Asia and Australasia. The new ownership structure positions Tourvest as the largest integrated tourism group in South Africa,” says ceo Tommy Edmond. “With a diversity of products, travel and financial services, retail merchandising, and inbound brands, as well as a strong management team, value adding partners, and great staff, we have a commanding position in the tourism industry that is crucial to growing tourism in South Africa.”