NEF commits R500m to BEE, has R1,5bn under management

June 23, 2006

State financing agency, the National Empowerment Fund (NEF), which disbursed only R25-million in its first seven years of existence, announced on Friday that it had now committed over R500-million to various transactions...

The NEF, which operates under the auspices of the Department of Trade and Industry with the mandate to focus exclusively on funding broad-based black economic-empowerment transactions in the small business sector for new and existing black-owned businesses, said that its investment pipeline stood at a billion rands, bringing the funds under management to R1,5-billion.

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