Added
2021-02-25
Description
This public-private fund intends to diversify the country’s predominantly white-owned tourism industry. The Tourism Equity Fund (TEF) is a collaboration between the Department of Tourism and the Small Enterprise Finance Agency (SEFA) and explicitly aims to support "majority black owned (minimum 51%) tourism enterprises including enterprises in rural areas and townships, to promote alleviation of poverty, inequality and the growth of black controlled tourism enterprises". Solidarity, a 140,000 member strong, mainly Afrikaner, Trade Union have called the fund 'racist' and announced that they are 'exploring legal options'.
Specific details
Location
South Africa