NEF piles up clothing sector empowerment, Ujuh.co.za – Ujuh
NEF piles up clothing sector empowerment, Ujuh.co.za – Ujuh
The National Empowerment Fund (NEF) has unveiled another fresh transaction where it is funding a clothing manufacturing venture to the tune of R35m and enables broad based black economic empowerment (BBBEE) in Northern Cape, Kimberly.
In this transaction the NEF funded a takeover by management and workers of an 82 years old corporate clothing firm, Delswa Group. The state owned development finance institution emphasised that the transaction, approved in April, will facilitate black economic empowerment (BEE) in an industry that has been slow to transform.
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