Are you a black-owned tourism businesses looking to grow?
The NDT, together with the National Empower Fund (NEF) is on a drive to help black-owned tourism businesses by providing a combination of grant funding, debt financing and equity contributions through the Tourism Transformation Fund (TTF).
The grant funding portion is used to reduce the approved loan finance of equity contribution by the NEF.
The grant contribution for approved applications is limited to 50% of the total loan finance and/or equity contribution approved by the NEF and is capped at a maximum of R5 million per beneficiary.
Your business qualifies if:
- Your direct clients are tourists
- Your business is commercially viable and sustainable based on the NEF criteria
- Your business is majority (51%) black owned
- Your business is black-management controlled
- Shareholders must be operationally involved in the business
- Your business is registered as a legal entity in South Africa
- You are designated as a black-owned EME or QSE according to the B-BBEE Sector code.