South Africa Signs New Agreement with Chinese Company, Tencent to Scale Foreign Investment

Tencent to Scale Foreign Investment

The South Africa Department of Tourism has signed a new partnership agreement with Tencent to accelerate tourism activities in the country. The partnership will allow South Africa to advertise places in the country on Tencent’s social network medium, WeChat.

Tencent is a Chinese multinational tech company that offers various tech products and services like instant messaging and social media apps, entertainment, AI technology amidst others. The company also owns the popular networking site, WeChat as well as Tencent QQ. Its market valuation stands at $400 billion.

The South Africa government will capitalize on the tech company’s vast reach to access millions of potential Chinese travelers.


See also: Naspers Bids to Acquire Just Eat, Britain’s Leading Online Food Delivery Business


According to the South Africa tourism minister, Mmamoloko Kubayi-Ngubane, the country is open to accommodate new business ventures from foreign countries.

He noted that the country has excellent transport services and communication infrastructure which globally competes with the best communication facilities.

The partnership agreement between the duo will span across two years and will position South Africa as the preferred tourism and investment destination in China through digital marketing campaigns on WeChat and other Tencent platforms.

The agreement will also allow Tencent

Accelerate the implementation of WeChat Pay for Chinese travelers that will visit South Africa. 

 

 

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