Department Of Tourism Funding, The Tourism Transformation Fund (TTF) is an incentive scheme that focuses specifically on financial support for black investors and communities investing in capital projects in the tourism sector. The Department of Tourism (NDT) signed a Memorandum of Agreement (A) with the National Empowerment Fund (NEF) on 28 March 2017 to create and manage a dedicated capital investment funding mechanism to drive transformation in the tourism sector in a more direct and impactful manner.
The TTF will bed to the tune of R120 million annually, over a period of three financial years (FY 2017/2018 to FY 2019/2020), through annual grant funding of R40 million by Department of Tourism and R80 million loan and/or equity funding by the NEF. The TTF will offer grant funding of up to R5 million to qualifying small and micro tourism enterprises to unlock investment by black investors in the tourism sector.
The TTF will not only assist small and micro majority black-owned tourism enterprises to expand and grow, but also e the rise of a new generation of youth, women, and black owned tourism industrialists to take the tourism sector to new heights.
The TTF is administered by the NEF and details on the TTF and its eligibility criteria can be obtained from the Pogramme Guidelines.
Application Procedure
- Download an application form and checklist from the NEF Website at www.nefcorp.co.za.
- All TTF applications and enquiries should be sent to [email protected].
- Note that incomplete applications will not be considered for funding.