Franchise expansion, Fm.co.za – Financial Mail
Franchise expansion, Fm.co.za – Financial Mail
Some SA fuel companies have pinned their hopes on the National Empowerment Fund (NEF) to help expand their retail fuel service stations across the country and get the edge on competition while also working towards meeting the requirements of the liquid fuels charter on black economic empowerment.
In the past month the NEF has signed agreements with Engen and BP, promising to provide funding to new franchise owners, predominantly black people and women. The NEF invested R146,5m in the development or acquisition of 33 fuel service stations through its Imbewu fund in the past two years, says Nhlanhla Nyembe, the fund's manager.
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