The Tourism Transformation Fund (TTF) is a dedicated capital investment funding mechanismn established by the Department of Tourism in collaboration with the National Empowerment Fund (NEF) and focuses specifically on financial support for black investors and communities investing in capital projects in the tourism sector. The Fund aims to drive transformation in the tourism sector in a more direct and impactful manner that will not only assist black-owned tourism enterprises to expand and grow, but also catalyse the rise of a new generation of black owned youth, women and community owned tourism enterprises to take the tourism sector to new heights. The Fund is administered by the NEF on behalf of the Department of Tourism.
The TTF provides a combination of grant funding, debt financing and equity contributions to facilitate capital investment in the tourism sector by prospective black investors. The grant funding portion is used to reduce the approved loan finance and/or equity contribution by the NEF for tourism projects. The grant funding component is capped at 30% of the total funding required or R5 million (whichever is greater) per applicant.
A second window period for applications is open from 1 April 2019 to 30 June 2019 to call for prospective applicants to submit applications for the Tourism Transformation Fund.
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.
Programme Guidelines for The Tourism Transformation Fund