Durban: More than R500 million has been disbursed to support tourism businesses across South Africa, as announced by Muziwabantu Dayimani, the Chief Executive Officer of the National Empowerment Fund. Since the inception of the Tourism Transformation Fund (TTF), 43 transactions have been approved, valued at over R510.51 million, spanning nine provinces. The goal of the TTF is to accelerate transformation within the tourism sector by promoting inclusive participation from black-owned enterprises, women-owned businesses, youth entrepreneurs, and community-based tourism initiatives.
According to South African Government News Agency, Dayimani shared these insights during a panel discussion at the Africa Travel Indaba, held at the Inkosi Albert Luthuli Convention Centre. The event, themed 'Unlimited Africa: Growing Africa's Tourism Economy,' is taking place from 11-14 May 2026. Dayimani explained that the TTF was established due to the slow pace of transformation within the sector, emphasizing the fund's continued role in advancing economic transformation.
Dayimani highlighted the substantial impact of the TTF, which has supported over 1,485 jobs, creating 751 new positions and preserving 734. He stressed that these figures represent more than just statistics; they symbolize the dreams and futures of black entrepreneurs, families, and communities. The TTF beneficiaries, showcasing the next wave of transformed tourism enterprises, embody resilience, transformed ownership, and the promising future of South African tourism.
Addressing the barriers facing emerging tourism entrepreneurs, Dayimani called for tangible transformation in ownership patterns, procurement, infrastructure development, and meaningful participation in the tourism economy. He noted the immense opportunities within South Africa's diverse tourism offerings, from eco-tourism and heritage tourism to marine and safari experiences.
Dayimani urged entrepreneurs nationwide to leverage the TTF during the 2026/2027 financial year, encouraging submissions for commercially viable tourism projects. The NEF and the Department of Tourism remain committed to supporting sustainable tourism enterprises that can generate jobs, stimulate local economies, and expand black participation within the sector.
The Tourism Transformation Fund, a pivotal South African initiative, provides financial support through grants, debt, and equity financing. It aligns with national policies like Broad-Based Black Economic Empowerment (B-BBEE), the National Development Plan, and the Economic Reconstruction and Recovery Plan.
Africa's Travel Indaba 2026 coincides with Africa Month, offering a platform to strengthen partnerships and shape a more inclusive tourism future benefiting communities, entrepreneurs, and nations.