R34 million to sell R63 000 dresses, FINANCIAL MAIL, Trialogue Sustainability Review
R34 million to sell R63 000 dresses, FINANCIAL MAIL, Trialogue Sustainability Review
In late July, the National Empowerment Fund (NEF) was in the media for providing self-made media mogul Khanyi Dhlomo with more than R34 million to open a luxury goods department store called Luminance in Hyde Park. “It is definitely our intention as a department that we want to see more public money which supports empowerment supporting actual people who are getting involved in the productive sector of the economy and also in local productivity,” said Trade and Industry Minister, Rob Davies, who called for an investigation into the cash-strapped NEF's investment. The NEF defended the loan, pointing out that there were few black individuals in the luxury retail sector and that the investment benefited women entrepreneurs, also in short supply.
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