New NU’ funding put on ice, CITY PRESS, Business Page 3
New NU’ funding put on ice, CITY PRESS, Business Page 3
Overly optimistic expectations of the readiness of the department of trade and industry (DTIC) to recapitalise the R5 billion National Empowerment Fund (NEF) has forced the agency to immediately stop all new funding before it becomes unable to honour the loans it has already approved. The NEF is the only major government intervention exclusively aimed at funding black entrepreneurs, but will probably be accepting no new applications this financial year.
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