The Moroccan Tourism Ministry has launched a “Cap Hospitality” platform that will provide support and financing mechanism aimed at accelerating the upgrading of the county’s classified tourist accommodation establishments.

The “Cap Hospitality” hub which was launched on Wednesday is part of an agreement between the ministry, the Ministry delegated to the Budget, the Mohammed VI Fund for Investment, and the Moroccan Society of Tourist engineering.

Minister of Tourism Fatim-Zahra Ammor, who led the launch of the initiative, said the mechanism will target the upgrading of 25,000 accommodation rooms with an expected investment impact of up to MAD 4 billion ($402.8 million).

“The initiative reflects Morocco’s commitment to boosting its tourism facilities and accommodation capacity amid the significant increase in tourist arrivals as well as in preparing for upcoming sporting events like AFCON 2025 and the 2030 World Cup,” Ammor said.

“Covering the period between 2024 and 2025, the program provides a loan where the government covers all interest costs for the upgrading of the accommodation facilities.

“Loan amounts range from MAD 3 million ($302,145) to MAD 100 ($10 million), with a maturity of up to 12 years,” he added.

Ammor stressed the need to accelerate investments in tourist accommodation, adding that this mechanism presents a unique opportunity to modernize facilities and improve services in the tourism industry.

Morocco has frequently emphasized the importance of the tourism industry, one of the key sectors contributing to the country’s economy, with travel revenues reaching MAD 31.87 billion ($3 billion) in the past four months, with nearly six million foreign tourists visiting Morocco by the end of May this year.

Last year alone, Morocco welcomed 14.5 million tourists, with the country hoping to increase this figure increased to over 15 million in 2024.

Nollywood actress and producer, Funke Akindele, has advised women not to depend on men for their success.

Akindele, a renowned filmmaker and politician, who made the call in an interview, urged women to be enterprising and self-reliant.

The thespian who is fondly called “Jennifa”, emphasized the importance of entrepreneurship for women regardless of their circumstances.

In her words, women should develop entrepreneurial skills and the potential to achieve financial independence.

“Who says women can’t make money?” she asked.

“You don’t have to rely on a man to make it.”

She also advised young women to “stay content and focused on their goals, rather than envying others and living beyond their means.”

“Whatever you have, just start something. Move. Don’t wait for the big opportunity. Even if it’s petty business, just start something.

Sharing her journey to success, Akindele said:

“I used to buy my handbags from ‘bend down select.’ I would wash and iron them and slay with them. Even with the cheap bags, I still felt good. Just believe in yourself.

“Content that would drive you crazy, people that would say things that would upset you, toxic people—avoid them. Because you’re growing in a new space. It’s what you feed yourself with that matters,” she added.