The Tourism Transformation Fund (TTF) is a dedicated capital investment funding mechanism 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 Tourism Transformation Fund is capitalised by the Department of Tourism to the tune of R40 million annual grant funding, over a period of three financial years up to 2020. The grant funding will be used to reduce the funding gap that may exist between the prospective investor’s own contribution and the approved loan finance and/or equity contribution by the NEF for tourism projects. The grant component will be capped at a maximum of R5 million per successful applicant to unlock investment in the tourism sector by qualifying black-owned small and micro tourism enterprises. A Window period for applications is open from 17 May 2019 to 30 June 2019 to call for prospective applicants to submit applications for the Tourism Transformation Fund.
- More detailed information on the TTF as well as an application form and checklist can be downloaded here
- All TTF applications and enquiries should be sent to firstname.lastname@example.org.
- Note that incomplete applications will not be considered for funding.