The BBC is the largest black business umbrella body in South Africa, representing professionals across sectors, business associations and chambers.
The Tourism Business Council of South Africa (TBCSA), an organisation comprising established players, including hotel groups and rental car companies, says the fund is “a step in the right direction,” according to CEO Tshifhiwa Tshivhengwa.
The fund’s goal is to provide funding for projects. “By providing access to finance for black-owned commercially viable tourism projects, the TEF is intended to address one of the major challenges to transformation of the tourism sector,” the tourism department explained.
The funds will be in the form of debt, concessionary loans and grants.
Tourism is typically one of the biggest contributors to South Africa’s GDP. It is also one of the sectors that has experienced positive growth since
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