PRESIDENT Cyril Ramaphosa is expected to address the virtual launch of the Tourism Equity Fund on Tuesday, which is aimed at driving transformation in the tourism sector.
The Tourism Equity Fund (TEF) was established by the Department of Tourism in partnership with the Small Enterprise Finance Agency (SEFA) as a new financial support mechanism to stimulate investment and transformation in the Tourism sector.
The fund is aimed at creating an inclusive and growing tourism sector by supporting entrepreneurship and investment on the supply side of the tourism sector.
The fund will offer a combination of debt finance and grant funding for large capital investment projects in the tourism sector.
The South African Economic Reconstruction and Recovery plan identifies the tourism sector as one of the key priority areas to revive the economy.
(SOURCE: INSIDE POLITICS)
