As one of the largest contributors to the South African GDP, the tourism sector offers significant employment and enterprise development opportunities in the country. Established by the Department of Tourism, the Tourism Equity Fund (TEF) promotes growth and transformation in the sector, in line with the Tourism BBBEE sector codes. The Fund aims to address funding challenges faced by enterprises in the tourism sector, stimulating job creation in the sector. The TEF offers blended finance support in the form of a loan from sefa and any other financiers, and grant funding from the Department of Tourism. To access the Fund and develop a compliant application…contact DTC today!
Focus Areas of the Tourism Equity Fund
- Accommodation: This encompasses establishments including hotels, resort properties, bed and breakfast (B&B), guesthouses, game lodges, resorts, and backpacker facilities.
- Hospitality and Related Services: Includes conference and convention venues that are tied to accommodation facilities, restaurants, and professional catering. Additionally, privately owned attractions within well-established tourism hubs are also eligible for consideration.
- Travel and related Services: Comprise of tour wholesalers, tour operators, travel agents, tourist guides, car rental companies, and couch operators.
- Other Tourism related initiatives: The Fund is open to enterprises within the Sector and all parts of the value chain as prescribed in the Tourism B-BBEE Sector Code.
Applicants must complete and submit their application online through the sefa website. Applicants will be screened against the qualifying criteria and eligibility. Those who meet pre-screening requirements will then proceed to a full due diligence. In the due diligence stage, all applications are assessed for financial viability, growth, and sustainability. Processes, systems, and capabilities will be tested against supporting documentation. After this stage subject to a successful due diligence process, applications are considered for approval. It is important to note that application approvals are limited to the availability of the funds.
For more information on the Fund – Contact Dream Team Capital