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Tourism Transformation Fund

 Tourism Transformation Fund

Transformation and more inclusive growth of the tourism sector remains a key priority for the Department of Tourism in line with broader government objectives and legislation for Broad-Based Black Economic Empowerment (B-BBEE). As part of its efforts to support sector transformation, the Department partnered with the National Empowerment Fund (NEF) to establish a dedicated capital investment funding mechanism to encourage capital investment by majority black owned investors in the tourism sector. The Tourism Transformation Fund (TTF) aims to utilise grant funding to stimulate accelerated sector transformation and more inclusive growth and is expected to give rise to a new generation of black-owned youth, women and community based tourism enterprises that will take the tourism sector to new heights.

The TTF offers a combination of debt finance from the NEF and grant funding from the Department for new and expansionary tourism development projects with majority black shareholding. The TTF is administered by the NEF on behalf of the Department and applications for support follows the normal loan application process of the NEF.

Loans for majority black-owned tourism projects that are approved by the NEF will be considered for a grant funding portion of 30% of the loan amount up to maximum of R5 million depending on the size of the project. The grant funding portion is subject to the application meeting the TTF eligibility criteria.

Application procedure
  • Applicants should submit their application forms and supporting documents directly to the NEF, who will assess applications for commercial viability and TTF eligibility.
  • More detailed information on the TTF as well as an application form and checklist can be downloaded from the NEF Website: www.nefcorp.co.za.
  • All TTF applications and enquiries should be sent to: tourism@nefcorp.co.za
  • Note that incomplete applications will not be considered for funding.
  • The final application window in the current budget cycle for the Tourism Transformation Fund (TTF) is open for a period of seven months from 2 September 2019 to 31 March 2020. 
Disclaimer

Prospective applicants for the Tourism Transformation Fund (TTF) are advised to be wary of people purporting to be representatives or agents of the programme.

Please note that the NEF and the department have not appointed agents or consultants to assist enterprises with the preparation of applications. The use of and payment of any fees to consultants is at the discretion of the applicants.