R340M TOURISM TRANSFORMATION FUND LAUNCHED

In efforts to facilitate meaningful transformation in the tourism sector, the South African Department of Tourism and the National Empowerment Fund (NEF) have launched the Tourism Transformation Fund.

The fund is dedicated to providing financial support to black businesses and initiatives to bring about meaningful transformation in the tourism sector.

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Speaking to City Press in the last quarter of 2017, then Tourism Minister Tokozile Xasa announced plans for a tourism fund, which would see R340 million distributed over 3 years.

The funding was generated from a combination of the government’s “savings, loans from…
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R340M TOURISM TRANSFORMATION FUND LAUNCHED