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
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. ..