R34m nef loan to Khanyi okay DTIC, NC TIMES
R34m nef loan to Khanyi okay DTIC, NC TIMES
DTIC he mandate of the National Empowerment Fund (NEF) to support Black Economic Empowerment and the productive economy was not in question according to Rob Davies the Minister of Trade and Industry following an outcry after the agency gave R34 million to Khanyi Dlomo for an upmarket manufacturing boutique in Johannesburg. Davies was briefing the Portfolio Committee on Trade and Industry in the National Assembly regarding the loan to Ndalo Luxury Ventures (NLV) by the NEF. In August 2012 the NEF approved loan finance to the value of R34.1 million for construction of the Luminance store, the local manufacturer of a clothing range for the Luminance brand and the procurement of stock and shopfit material from local suppliers.
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