Fund Name

Tourism Transformation Fund (TTF)

Agency

NEF

Type

Blended Finance

Sector

Services & Innovation

Summary

The Tourism Transformation Fund (TTF) is a dedicated capital investment fund established by the Department of Tourism and administered by the NEF, providing a combination of grant funding, debt financing, and equity contributions to black entrepreneurs in the tourism sector.

The Tourism Transformation Fund (TTF) is a dedicated capital investment funding mechanism established by the Department of Tourism in collaboration with the National Empowerment Fund (NEF). It focuses specifically on financial support for black entrepreneurs for projects in the tourism sector.

The Fund aims to drive transformation in tourism in a more direct and impactful manner — assisting black-owned tourism enterprises to expand and grow, and catalysing the rise of a new generation of black-owned, youth-owned, women-owned and community-owned tourism enterprises.

The TTF provides a combination of grant funding, debt financing, and equity contributions. The grant funding portion from the Department of Tourism is used to reduce the approved loan finance and/or equity contribution by the NEF and/or other accredited Development Finance Institutions (DFIs). The Department’s grant contribution is limited to 50% of the total funding approved and is capped at a maximum of R5 000 000 (Five Million Rand) per beneficiary.

The Fund is administered by the NEF on behalf of the Department of Tourism. Co-financing between the NEF and/or other accredited DFIs is allowed under the Fund, subject to NEF agreement.

Who this is for?

The TTF is aimed at:

  • Black entrepreneurs seeking capital for tourism sector projects
  • Black-owned tourism enterprises looking to expand and grow
  • Youth-owned (18–35) tourism businesses
  • Women-owned tourism businesses
  • New and existing businesses in the tourism sector across all provinces
  • Small, medium and large enterprises (6 to 50+ employees)
  • Businesses that can demonstrate commercial viability for their tourism project

What support/funding you can get

  • Grant component: Up to 50% of total approved funding, capped at R5 000 000 per beneficiary (provided by Department of Tourism)
  • Debt and/or equity component: Provided by the NEF and/or other accredited DFIs
  • Co-financing: Permitted between NEF and other accredited DFIs, subject to NEF agreement

What you can use it for?

The TTF supports capital investment in the tourism sector, including:

  • Expansion and growth of existing black-owned tourism enterprises
  • New tourism business ventures by black entrepreneurs
  • Acquisition of tourism assets or businesses
  • Working capital for tourism operations
  • Buildings, machinery, equipment, and commercial vehicles for tourism businesses

Key requirements and conditions

  • Applicants must be black entrepreneurs with a project in the tourism sector
  • The tourism project must demonstrate commercial viability
  • The Department of Tourism’s grant contribution is limited to 50% of total approved funding and capped at R5 000 000 per beneficiary
  • Applications must be submitted with all required supporting documents — incomplete applications will not be considered for funding
  • Co-financing arrangements with other DFIs must be agreed to by the NEF
  • Applicants are advised to be wary of people purporting to be representatives or agents of the programme — the NEF and Department of Tourism have not appointed agents or consultants to assist with applications
  • Use of consultants is at the applicant’s own discretion and cost

How the application works

Applicants submit their applications and all supporting documents directly to the NEF. The NEF assesses applications for commercial viability and TTF eligibility.

Resources available to applicants:

All TTF enquiries should be sent to: tourism@nefcorp.co.za

Note: incomplete applications will not be considered for funding.

What to prepare before you start

  • Completed TTF application form (via the NEF online portal)
  • TTF application checklist (available for download from the NEF website)
  • Business plan demonstrating commercial viability of the tourism project
  • Financial statements or projections (audited where available)
  • Proof of black ownership and BEE credentials
  • Details of the tourism project, including location, scope, and expected impact
  • Identity documents for key shareholders and directors
  • Details of any co-financing arrangements with other DFIs (if applicable)

Am I a fit for this particular fund?

You likely qualify if:

  • You are a black entrepreneur with a project in the tourism sector
  • Your tourism project is commercially viable
  • You need grant blended with debt or equity funding to make your tourism project viable
  • You are starting a new tourism venture, expanding an existing tourism enterprise, or acquiring tourism assets
  • Your business has 6 or more employees
  • Your annual turnover is R1 million or more
  • You are able to submit a complete application with all required documentation

You likely do not qualify if:

  • You are not a black entrepreneur or your business is not black-owned
  • Your project is not in the tourism sector
  • Your tourism project cannot demonstrate commercial viability
  • Your application is incomplete — incomplete applications will not be considered
  • Your project requires a grant exceeding R5 000 000 or more than 50% of total approved funding from the Department of Tourism
  • Your business has fewer than 6 employees

Quick facts

Overview

  • Agency: National Empowerment Fund (NEF)
  • Product name Tourism Transformation Fund (TTF)
  • What this is: A dedicated capital investment funding mechanism established by the Department of Tourism and administered by the NEF, combining grant funding, debt financing, and equity contributions to support black entrepreneurs in the tourism sector.
  • Geographic scope: National (all provinces)

Who this is for

  • Eligible applicant type: Black entrepreneurs with tourism sector projects; black-owned, youth-owned (18–35), and women-owned tourism enterprises; small, medium and large enterprises
  • Sector focus: Tourism (all sub-sectors), Infrastructure / Energy linked to tourism
  • Business stage: Start-up (under 2 years), Growing Business (2–5 years), Established (5+ years)

Type of support

  • Is financial support provided: Yes
  • Support form: Grant funding (from Department of Tourism) blended with debt financing and/or equity contributions (from NEF and/or accredited DFIs)

Funding parameters

  • Funding approach: Grant (non-repayable, up to 50% of total approved funding) combined with repayable debt/equity component
  • Funding range: Grant component capped at R5 000 000 per beneficiary (up to 50% of total approved funding); debt/equity component determined by NEF assessment
  • Funding streams: Single blended product combining: 1. Grant from Department of Tourism (up to 50% of total, max R5 million); 2. Debt and/or equity from NEF and/or accredited DFIs; co-financing with other DFIs permitted subject to NEF agreement
  • Funding structure: Grant portion reduces the approved loan finance and/or equity contribution — grant limited to 50% of total approved funding, capped at R5 000 000 per beneficiary

What the support can be used for

  • Eligible use of support: Capital investment in tourism sector: expansion of existing tourism enterprises, new tourism ventures, acquisition of tourism assets, working capital, buildings, machinery, equipment, commercial vehicles
  • Ineligible use of support: Non-tourism sector projects; projects that cannot demonstrate commercial viability; incomplete applications (will not be considered); projects requiring a grant exceeding R5 000 000 or more than 50% of total approved funding

Information you will need to provide

Completed TTF application form, TTF application checklist (download from NEF website), business plan demonstrating commercial viability of the tourism project, financial statements or projections (audited where available), proof of black ownership and BEE credentials, details of the tourism project including location, scope and expected impact, identity documents for key shareholders and directors, details of any co-financing arrangements with other DFIs

Key requirements and conditions

Co-financing between the NEF and/or other accredited DFIs is allowed under the Fund, subject to NEF agreement.

How it works

  • Application route: Submit application and supporting documents directly to the NEF; apply via NEF online portal; email enquiries to tourism@nefcorp.co.za
  • Assessment focus: Commercial viability of the tourism project, black ownership credentials, completeness of application

Contact and routing

tourism@nefcorp.co.za | 0861 843 633

Additional information

The pilot phase opened in 2018; a review in 2021 increased grant amounts and allowed DFI co-financing. Applicants are advised to be wary of agents or consultants claiming to represent the programme. Incomplete applications will not be considered.

Contact and routing

Contact the National Empowerment Fund for TTF enquiries:

Application Considerations:

What You Need to Prepare Before Applying

Most applications are delayed or declined due to incomplete submissions. Preparing the items below upfront will significantly improve your chances.

Core documents (required for almost all funds)

  • Company registration documents
  • Ownership and shareholder information
  • Business plan or project description
  • Recent financial statements or management accounts
  • Project budget and cost breakdown

Project‑specific documents (depending on the fund)

  • Quotes for equipment, infrastructure, or services
  • Feasibility study or technical proposal (where required)
  • Energy solution proposal (for energy‑related funds)
  • Export contracts or buyer information (for export and insurance products)
  • Job creation plan (where applicable)
  • Turnaround or recovery plan (for distress funding)

Additional requirements

  • Proof of sector compliance or permits (where relevant)
  • Evidence of co‑funding or financing approvals (for grants and blended funding)
  • Any templates or declarations specified by the administering agency

What Happens After You Apply

  1. Completeness check – your submission is reviewed to ensure all required documents are included.
  2. Eligibility assessment – the agency confirms that you meet the fund’s basic criteria.
  3. Technical and financial review – your project and financials are evaluated.
  4. Decision and contracting – approved applications proceed to contracting and implementation.

Timelines vary by fund and depend heavily on the quality and completeness of your application.

Important Notes for Applicants

  • Approval is not guaranteed, even if all requirements are met.
  • Funding terms may be subject to final agency approval and conditions.
  • Submitting accurate and complete information is critical.
  • Misrepresentation or incomplete information can result in delays or rejection.

Interested in this fund or have some questions?

Online Enquiry

Direct Enquiry

General Enquiries

Email Address:
enquiries@nefcorp.co.za

Contact Numbers:
0861 843 633 / 011 305 8000

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