The Durban beach promenade. AFP/Rajesh Jantilal
* Editor's note: This article is updated each time new information becomes available.
JOHANNESBURG - Tourism businesses may now apply for financial assistance via the Small Enterprise Finance Agency.
Government has launched a Tourism Equity Fund of over R1.2-billion.
It will manage this over three years.
The fund aims to raise investment and boost transformation in tourism.
It will do this by offering a combination of debt finance and grant funding to black entrepreneurs for large projects.
The tourism sector employs over 1.5 million people and contributes 3 percent of GDP.
It's been identified as one of the key areas to revive the economy.