Money a la mode, BUSINESS DAY (Late Final)
Money a la mode, BUSINESS DAY (Late Final)
The National Empowerment Fund's (NEF's) funding to Luminance is questionable in many ways. You competently dealt with some of them in your editorial, Advice on funding — and fashion (August 1). Many of us, not only Trade and Industry Minister Rob Davies, can do with some fashion advice from Khanyi Dhlomo — I agree. For a nation with a developmental outlook such as ours, it is astonishing that an institution like the NEF is funding a business that seeks to promote ostentatious consumption in the quantum of millions of rands. What is more, the business seeks to promote imported luxury brands! And R34m is a lot of money for the NEF to pour into a start-up business with no real and transparent catalytic benefits to the economy.
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