The Department of Tourism is calling on all black-owned tourism enterprises to apply for the Tourism Transformation Fund (TTF).
The department, together with the National Empower Fund (NEF), aims to provide a financial boost to these enterprises through the fund.
“The TTF 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 to catalyse the rise of a new generation of black-owned tourism enterprises to propel the tourism sector to greater heights.
“The TTF provides a combination of grant funding, debt financing and equity contributions to facilitate capital investment in the tourism sector by black entrepreneurs. The grant funding portion is used to reduce the approved loan finance and/or equity contribution by the NEF, where commercial viability of the tourism project has been established,” the department said.
The fund will also
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