The Tourism Fund has launched a revolving fund that will disburse loans to learners enrolled in universities and colleges pursuing hospitality studies.
The Tourism Training Revolving Fund (TTRF) will disburse the loans through the Higher Education Loans Board (Helb) which gives loans to students from needy backgrounds to pursue higher education.
According to Tourism Cabinet Secretary Rebecca Miano, the TTRF will also give low-cost loans to tertiary education institutions that teach hospitality courses.
Some of the hospitality courses offered in Kenya include hospitality management, culinary arts, food and beverage management, hotel and catering management and housekeeping and laundry operations.
“The Fund is the first of its kind in the history of Kenya. It will offer the opportunity to anyone who wants to train in the hospitality sector and also the institutions that train the hospitality sector to access affordable funds,” said CS Miano during the launch of the fund on Friday.
“This is to place Kenya at the apex of the standards of hospitality. We do know that our hospitality is one of the pivotal points in the tourism sector and with this fund we will ensure that we have the training and to standardize the service that you get in this country,” said the CS.
The TTRF was established under the 2011 Tourism Act to provide financial support for individuals pursuing education in the tourism sector. Like HELB, the sustainability of the fund relies on loan repayments by beneficiaries, ensuring its ongoing ability to assist future students.
The hospitality sector, which includes tourism, is a key pillar of Kenya’s economy and a major earner of foreign exchange for the country, supplementing earnings from exports of tea, coffee and horticultural produce.
Kenya’s tourism sector grew significantly in 2023 boosted by a surge in international travel following the end of Covid-19 restrictions as well as the high-profile international conferences that were hosted in the country, including the Africa Climate Summit.
