CATEGORIES
- (27)Agriculture, Land Reform & Rural Development
- (22)Auditors & Accountants
- (6)Broad-based Black Economic Empowerment
- (5)Built Environment
- (51)Communications & Digital Technologies
- (2)Company Law
- (2)Consumer Law
- (10)Courts
- (2)Criminal Law
- (1)Cybercrimes
- (2)Disaster Management
- (10)Education & Training
- (3)Electoral Law
- (85)Environmental Law
- (4)Family Law
- (129)Financial Sector
- (2)Fisheries & Aquaculture
- (5)General Interest
- (17)Health & Safety
- (19)Home Affairs
- (3)Housing
- (13)In the Spotlight
- (1)International Co-operation
- (72)Justice & Constitutional Development
- (50)Labour Law
- (16)Legal Practice Council
- (15)Local Government
- (20)Minerals & Energy
- (1)Monetary Policy
- (1)National Development Plan
- (12)National Treasury
- (62)New Legislation
- (11)Opportunities for Public Comment
- (6)POPIA
- (268)Parliament
- (1)Practice Management
- (4)Presidency
- (13)Property Law
- (8)Public Service
- (3)Retirement Reform
- (12)Road Accident Fund
- (19)Safety and Security
- (7)Small Business Development
- (20)Social Development
- (8)Sport, Arts & Culture
- (14)State Owned Enterprises
- (4)State of Disaster (energy)
- (15)Taxation
- (7)Tourism
- (58)Trade, Industry & Competition
- (32)Transport
- (15)Water & Sanitation
- Show All
TOURISM EQUITY FUND APPLICATIONS: STATUS CLARIFIED
- 05 October 2023
- Tourism
- SA Legal Academy
Please note: The following documents provide further information on the revised/‘amended’ Tourism Equity Fund 1) 2 November 2023 media statement calling for applications/proposals from qualifying enterprises 2) Department of Tourism website page on the application process 3) 20 December 2023 media statement on the status of applications received to date.
According to a Department of Tourism media statement, an ‘amended Tourism Equity Fund’ will soon be ready to call for applications – at which point the status of those made to the ‘previous Fund’ will be clarified. This is noting that – ‘following a protracted court case’ – ‘earlier this year an out-of-court … settlement was reached’.
The statement gives much-needed context to last month’s announcement of Cabinet ‘support’ for the fund’s ‘implementation’, among other things informed by a broad-based black economic empowerment (B-BBEE) ownership target pegged at 30%. SA Legal Academy reported on this at the time.
Apparently, Cabinet support is for the ‘amended’ fund and B-BBEE-related criteria.
‘Tailored to provide a combination of debt and grant finance to facilitate equity acquisition and entrepreneurship’, the R1.2 bn fund was launched in January 2021. However, only tourism enterprises meeting a 51% black ownership requirement were eligible for assistance – hence the court case.
- media statement
- SA Legal Academy report on Cabinet decision
Published by SA Legal Academy Policy Watch