The Department of Tourism and the NEF signed an agreement in June 2018 to establish the Tourism Transformation Fund (TTF) to focus exclusively on the transformation of the South African tourism industry.
Some of the recipients of the funding who exhibited at Africa’s Travel Indaba were:
- Graskop Gorge Lift Company (Mpumalanga) – €2.5m
- Rhino Ridge Lodge in Hluhluwe (KZN) – €1.3m
- Royal Thonga Safari Lodge (KZN) – €609 000
- Tiger Lodge in Jozini (KZN) – €1.7m
- Park Inn Polokwane (Limpopo) – €300 000
- Donga La Boutique in Ladysmith (KZN) – €392 000
- Tala Lodge (KZN) – €876 000
Tourism and leisure, as a targeted growth sector, constitute a growing focus of the NEF in a portfolio of approved transactions valued at €607m countrywide.