South Africa: Tourism Equity Fund Welcomed

5 October 2023
SAnews.gov.za (Tshwane)

Tourism Minister Patricia de Lille has welcomed Cabinet's concurrence for the implementation of the Tourism Equity Fund (TEF).

Following a protracted court case, earlier this year, an out-of-court TEF settlement was reached with the applicants and the court application was subsequently withdrawn.

The Department of Tourism has been given the green light to implement the amended Tourism Equity Fund in line with existing legislation.

The R1.2 billion fund is managed by the Small Enterprise Finance Agency (sefa) on behalf of the department and was tailored to provide a combination of debt and grant finance to facilitate equity acquisition and entrepreneurship.

"The Department of Tourism and sefa are currently finalising the amended Tourism Equity Fund. We will announce the call for TEF applications by end of October 2023 and will also provide clarity on previous Tourism Equity Fund applications," Minister De Lille said.

"The Department of Tourism remains committed to advancing the transformation agenda through creating equitable opportunities to realise an inclusive and revived tourism economy," the Minister said.

Read the original article on SAnews.gov.za.

Tagged:
Copyright © 2023 SAnews.gov.za. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.