Luminance rural partners ”all in the air”, Sundayworld.co.za – Sunday World
Luminance rural partners ''all in the air'', Sundayworld.co.za – Sunday World
In the week in which the controversial Luminance deal got parliament's nod of approval, Sunday World went in search of the rural partners that own a 10% stake in the high-end boutique and found out that it's “all in the air” with nothing on paper.
Luminance's feted rural empowerment partners have not signed shareholding contracts and none of them have orders to provide the high-end store with stock.
One partner had no idea who Khanyi Dhlomo or the National Empowerment Fund (NEF) was.
NEF head of marketing and communications Moemise Motsepe confirmed that as part of the agreement to fund Dhlomo's Ndalo Luxury Ventures (NLV), the shareholding for rural women was increased from 2% to 10%.
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