South Africa: Tourism Funding Applications are now open

An announcement has been made by the Department of Tourism regarding the opening of the final application window in the current budget cycle for the Tourism Transformation Fund (TTF) and the Green Tourism Incentive Programme (GTIP).

The window for application is now open until 31st March 2020 for a period of seven months. As per the requirements of the TTF and GTIP programmes, all the eligible tourism enterprises are requested to submit fully completed application forms within the time-frame. And, it has been declared that incomplete applications will not be considered.

The TTF was developed in collaboration with the National Empowerment Fund (NEF) mechanism and is a dedicated capital investment, which in order to drive transformation in the tourism sector in a more direct and impactful manner.

“It aims to assist small and micro black-owned tourism enterprises to expand and grow with the goal of creating a new generation of black-owned, youth, women and community based tourism operators. All applications and approvals for this programme are managed by the NEF.

“The fund provides a combination of grant funding from the department and debt financing or equity contributions from the NEF to facilitate capital investment in the tourism sector by prospective black investors.

“The grant funding portion from the department is used to reduce the approved loan finance and/or equity contribution by the NEF for tourism projects. The grant component is capped at 30% of the total funding approved by the NEF up to a maximum of R5 million per applicant,” the department said in a statement.

However, the third and final window for TTF applications in the current budget cycle is open from 2nd September 2019 to 31st March 2020.

Applicants are urged to submit their application forms and supporting documents directly to the NEF, who will assess applications for commercial viability and TTF eligibility.

The application forms, Information, and guidelines are available on the NEF website at www.nefcorp.co.za and enquiries can be directed to tourism@nefcorp.co.za.

This programme is managed by the Industrial Development Corporation (IDC) on behalf of the department and all applications and approvals are managed by the IDC.

In the current budget cycle, the fifth and final window for GTIP applications is open from 2nd September 2019 to 31st March 2020.

IDC will assess the applications and the GTIP applicants should submit their application forms and supporting documents directly.

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