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Blended Finance
Blended Finance programs combine public funds (grants or concessional loans) with additional capital (often from DFIs or private investors) to reduce risk and cost. The idea is to “blend” government incentive money with loan or equity funding so that businesses can get a more affordable and flexible financing package.
Available Funds for Blended Finance
Tourism Transformation Fund (TTF)
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.
Blended Finance
What it is
A financing structure where part of the funding is a grant or zero-interest portion, and the rest is a standard loan or equity investment. By absorbing some risk or cost through public funds, larger amounts of capital can be leveraged from IDC, NEF or commercial partners. Blended finance is used to encourage projects that have high development impact but might not attract purely commercial finance.
Blended Finance
Who it suits
Blended Finance
Example Programs
The Tourism Transformation Fund (TTF) – a partnership between the Department of Tourism and NEF – offers a combination of grant (from Tourism) and loan/equity (from NEF) to black-owned tourism projects, effectively reducing the amount the business must repay. Another example is the Alternative Energy Fund (a dtic-NEF initiative) which provides concessionary finance to help black-owned businesses install renewable energy solutions. The Furniture Manufacturing Support Scheme (dtic-funded, administered by NEF) blends grant funding to stimulate growth in the furniture sector. IDC also participates in blended structures, for instance co-funding alongside government grants for industries like film and media, or infrastructure in Special Economic Zones, where IDC’s loan is sweetened by an incentive portion.
Blended Finance
How to access
Blended finance schemes often have joint application processes. For example, with the Tourism Transformation Fund, you apply through the NEF, which then coordinates the grant component with the government partner. Expect to meet criteria for both the grant (e.g. majority black ownership, sector-specific requirements) and the loan (business viability). The review process might involve multiple stakeholders. It’s important to clearly highlight the development outcomes of your project (such as jobs, community benefits, transformation) as well as its financial sustainability to succeed in obtaining blended funding.
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