Government fund for black entrepreneurs faces collapse
The NEF says it requires R1bn immediately, and a further R1bn per year for the next five years
02 November 2020 - 17:52
The government fund that provides capital for black entrepreneurs has warned that it is likely to collapse if government does not immediately supply a R1bn cash injection to recapitalise it.
The National Empowerment Fund (NEF) told parliament’s appropriations committee that its collapse could leave many black-owned small and medium-sized enterprises (SMEs) in key sectors such as construction, retail and franchising in the lurch. ..
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