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January 18, 2008
NEF disburses r46m to inca concrete products
Empowerment catalyst, the National Empowerment Fund (NEF), has approved a R46m disbursement to Western Cape-based empowerment consortium, Amaza Bricksworks (Amaza). The deal will facilitate the acquisition of a 74% share by Amaza in False Bay Bricks business through a new company structure called Inca Concrete Products.Says NEF's Chief Investment Officer, Frencel Gillion: "The deal was facilitated through the NEF's Corporate Fund, which is aimed at improving access to BEE capital for black-owned and managed enterprises as well as black entrepreneurs seeking equity shares in established organisations. The transaction will enable Amaza to enter a mature and stable organisation and to increase the empowerment footprint for the construction sector in the region as a whole."
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Posted by StaffWriter at January 18, 2008 7:31 AM