NEF pledges R150m to black industrialists

NEF pledges R150m to black industrialists

2021-08-01 08:41:00 PM

NEF pledges R150m to black industrialists

Goal of new fund is to promote and facilitate black economic participation through the provision of financial and non-financial support to black-owned and managed businesses

01 August 2021 - 19:20ALISTAIR ANDERSONThe Department of Trade, Industry and Competition (DTIC) has allocated R150m for the National Empowerment Fund (NEF) to establish the Black Business Manufacturing Fund (BBMF) which will support black run small and medium sized enterprises.

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Nhlanhla Nyembe, the NEF’s Divisional Executive for SME and Rural Development, said the money would support black entrepreneurs in manufacturing various products locally across all key sectors of the economy...BPremiumThis article is reserved for our subscribers.

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