Goge Africa, a prominent tourism and cultural media brand, has expressed its gratitude and admiration for Sterling Bank’s unwavering support of the tourism sector over the years. The Managing Director of Goge Africa, Nneka Isaac-Moses, lauded Sterling Bank in a statement issued on Tuesday from Lagos.
Isaac-Moses acknowledged that Sterling Bank had made a significant impact by investing a N5 billion intervention fund for tourism practitioners in 2020, precisely during the challenging lockdown period when the industry faced a critical juncture. This intervention, she noted, had proven to be a game-changer, providing essential support to numerous industry practitioners while contributing to the growth and development of tourism in Nigeria.
The Managing Director underscored the importance of having a financial institution take the lead in advancing the discourse on the tourism sector, stating that “having a financial institution lead the discourse on tourism in Nigeria is the beginning of a new chapter in the success story of tourism in the most populous black nation.”
Isaac-Moses emphasised that cross-sectoral collaboration is pivotal for tourism and economic development in Nigeria. She explained that Sterling Bank entered the tourism industry at a time when the business was grappling with multiple challenges, including the global impact of COVID-19, the economic downturn, escalating travel costs within Africa, and specific hurdles in Nigeria such as limited access to tourism destinations, security concerns, inadequate infrastructure, and an enabling environment.
These challenges had, to a considerable extent, dampened the spirits of industry practitioners, especially tour operators. Furthermore, the predominant focus on the oil sector by the government diverted attention away from tourism, causing many corporations and financial institutions to perceive tourism in Nigeria as a non-viable endeavour.
Isaac-Moses commended Sterling Bank’s intervention for instilling hope in tourism practitioners, motivating more individuals to venture into the tourism space, and encouraging existing practitioners to structure their businesses in a way that makes them eligible for support from the bank. She also noted that other financial institutions were beginning to recognise the potential of tourism as a viable investment opportunity.
Reflecting on Goge Africa’s journey since its launch in 1999, Isaac-Moses highlighted the initial challenges in securing the attention of corporate entities, particularly financial institutions. Therefore, the recent developments in the industry and the support from Sterling Bank were causes for celebration. She expressed deep appreciation to Mr. Abubakar Suleiman, the esteemed Managing Director of Sterling Bank, for his visionary leadership and belief in the enormous potential of tourism to connect communities, celebrate diverse cultures, and drive sustainable economic growth.
