Women Empowerment Fund (WEF)
The NEF Women Empowerment Fund is aimed at accelerating the provision of funding to businesses owned by black women. The funding starts from R250 000 to R75 million across a range of sectors, for start-ups, expansions and equity acquisition purposes.
In order to provide for different transactional needs, WEF uses a range of funding instruments that range from secured (senior debt) to unsecured options (equity), and/or a hybrid of the two.
Pricing is commensurate with the risk taken and the instrument used.
Funding requirements:
- Minimum of 51% black female ownership.
- Operational involvement at the managerial and board levels by black women.
- Commercial viability of the business case being presented.
- Compliance with all relevant laws and regulations.
- Ability of the business to repay WEF funding.
- Creation of jobs.
- Geographic location of the business is also important with the focus on rural or economically depressed areas encouraged.
- Possibility of co-funding with private or public sector institutions is encouraged in larger projects.
- For property transactions, at least 51% of the annual expenditure of the business to be allocated to majority black-owned businesses
