The Department of Tourism (DoT) has called for eligible enterprises to apply for funding under the Tourism Transformation Fund (TTF) and the Green Tourism Incentive Programme (GTIP), from October 1.
The TTF is a dedicated capital investment mechanism that was developed to drive transformation in the sector. It assists small and micro-sized black-owned tourism enterprises to expand and grow.
The GTIP is a resource efficiency grant funding mechanism that assists private sector tourism enterprises to reduce the cost of investing in energy and water efficiency solutions, thus enabling them to adhere to responsible tourism practices while reducing their operating costs.
Tourism Minister Lindiwe Sisulu says the TTF provides a combination of grant funding from the department and debt financing or equity contributions from the National Empowerment Fund to facilitate capital investment in the tourism sector by prospective black investors.
The GTIP is implemented and administered by the Industrial Development Corporation (IDC) on behalf of the DoT and all applications and approvals will be managed by the IDC.
“Through the implementation of the TTF and the GTIP, we envision creating a sector that is inclusive and sustainable, creating a pathway for new entrants to implement innovative businesses that make tourism thrive.
"I encourage all enterprises, especially youth- and women-owned businesses, to apply for both initiatives and contribute to transforming our sector and upholding responsible tourism practices,” says Sisulu.