Muziwabantu Dayimani, CEO of the National Empowerment Fund (NEF), says the Tourism Transformation Fund (TTF) has approved 43 deals valued at more than R510 million (US$31 million) since its inception.
Dayimani says the fund has supported more than 1 485 jobs, including 751 new positions created and 734 preserved. Funding has been directed to tourism operations including lodges, boutique hotels, safari businesses, cruise services and broader hospitality enterprises.
The TTF is designed to support black-owned enterprises, women-owned businesses, youth entrepreneurs and community-based tourism initiatives, providing financial assistance through grants, debt and equity funding.
According to Dayimani, the aim is to accelerate transformation in tourism ownership and participation. While South Africa has diverse tourism offerings, greater inclusion of black entrepreneurs remains necessary, he notes.
“We urge businesses with commercially viable tourism projects to come forward and submit applications. The NEF and the Department of Tourism are committed to supporting sustainable tourism enterprises that can create jobs, stimulate local economies and expand black participation within the sector.”
