Phakamile Madonsela
Regional Manager - KwaZulu-Natal at National Empowerment Fund - Johannesburg, Gauteng, South Africa
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Durban,KwaZulu-Natal,South Africa
National Empowerment Fund
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NEF Mandate:Established by the National Empowerment Fund Act No 105 of 1998 (NEF Act), the National Empowerment Fund (the NEF) is a driver and thought-leader in promoting and facilitating black economic participation by providing financial and non-financial support to black-owned and managed businesses, and by promoting a culture of savings and investment among black people. NEF business funding is from R250 000 to R75 million and where the funding requirement is greater, this is normally financed through third-party support. As at November 2021 the NEF had approved in excess of R11.2 billion across various sectors country-wide, with a total project value of R20.37 billion, supporting over 105 949 jobs. Investment Funds:NEF funding is obtainable from the following specialist Funds:1. The Women Empowerment Fund (WEF) facilitates the provision of funding to businesses owned and managed by black women across a range of sectors for start-up, expansion and equity acquisition purposes.2. iMbewu Fund supports black SMEs for franchise, procurement and entrepreneurship finance in support of new and existing black-owned businesses seeking to expand through debt, quasi-equity and equity finance products. 3. uMnotho Fund is designed to improve access to BEE capital through Acquisition Finance, Project Finance, Expansion Finance, Capital Markets Fund, and Liquidity and Warehousing. These products provide capital to black-owned and managed enterprises that are buying equity shares in established enterprises, new ventures and expansions. 4. The Rural, Township and Community Development Fund (RTCDF) provides funding to aspiring rural entrepreneurs and facilitates skills transfer to and operational involvement by community groups. 5. The Strategic Projects Fund (SPF) is mandated to increase the participation of potential black industrialists in early-stage projects in order to maximise South Africa's industrial productive capacity across key economic sectors.