Press release
South African OTA Timbu Offers to Buy Equity From Shareholders of Local Travel Agencies
Timbu.co.za, an Online South African travel agency, is offering to buy equity from the founders and investors of local travel agencies, particularly those that have been adversely affected by the Covid-19 pandemic. The company realises that a lot of travel agencies are in urgent need of cash funding, and in a bid to expand in the South African market, is making offers.During an interview with a local newspaper publication, the chief media representative of the company said, "We are eager to see agencies affected by the pandemic get back in business and become more productive. This funding offer is our way of strengthening and showing support to the travel industry in South Africa. We also see this as a good time to invest in the local travel industry, as many shareholders will be looking to exit the industry. We feel that there is still huge potential, and we can buy into the market now".
Companies that want to benefit from this fund are expected to submit a proposal to southafrica@timbu.com, which must contain the following details:
1. Company name
2. Company URL, if any
3. Name and email of the founder(s)
4. Role of each founder
5. What your company is making and the problem it aims to solve in South Africa
6. How your company managed its operations during the pandemic?
7. Company financials, or at least 12 months prior to the submission date
All applications should be submitted to southafrica@timbu.com with the subject line "South African Travel Agency Funding Application".
Uforo Essien
Public Relations Lead
pr-southafrica@timbu.com
timbu.co.za
We are an online travel agency specialising in hotel bookings within South Africa. We help customers book hotel rooms online, provide comprehensive help and support to our clients and make the hotel booking process smooth and easy.
We also provide hotel recommendations and reviews, making sure that our clients stay in good, clean and safe hotels all over the country.
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