FINWEEK, NSIGHT THE NATIONAL EMPOWE
FINWEEK (English) [Page 26-27-]
INSIGHT THE NATIONAL EMPOWERMENT FUND Sibling rivalry A reinvigorated NEF wants to emerge from the IDC's shadows PHILISIWE BUTHELEZI THE NATIONAL Empowerment Fund (NEF) — a state-owned agency tasked to facilitate black economic participation through the provision of financial and non-financial support — says it's made significant strides in carrying out its mandate, having approved 286 transactions to the value of R2,5bn since it started operating in 2005. That's given it experience and confidence to venture into large-scale multi-billion rand greenfields projects, requiring international investors and expertise. “We're saying — as the fund — the strategic driver for us will be to look at broadening the ownership base of our entities in South Africa,” says NEF CEO Philisiwe Buthelezi, explaining the agency's Strategic Projects Fund (SPF), whose aim is to increase the participation of black people in early stage projects aligned to national government policy.
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