Government launches R1.2bn tourism equity fund to drive change in the sector
Tourism Equity Fund aims to increase the participation of black-owned enterprises in the R400bn sector
The government has launched a R1.2bn debt and grant financing facility to help quicken the transformation of the tourism sector.
The tourism industry, which is regarded as a mainstay of the economy, accounts for an estimated 8.6% of GDP. It is one of the biggest casualties of Covid-19 lockdown, resulting in hundreds of company closures as business owners struggle to find financial support to cushion them from the pandemic...