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 - 19:20
The 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.
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...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.