R200 Million Set Aside For Black Business to Fight COVID-19

“Among its manifestations the spread of the coronavirus pandemic has resulted in the strangulation of many businesses, job losses, deepening poverty, and the erosion of the empowerment divided. That is why the National Empowerment Fund (NEF) values the organic collaboration with the Department of Trade, Industry, and Competition (The dtic) as our parent ministry in identifying, financing, and supporting black businesses to help the country with the manufacture and distribution of priority and essential products that are in short supply. By supporting these businesses through the NEF COVID Black Business Fund, the country is fighting the pandemic while taking sustainable economic transformation forward,” says NEF Board Chairman, Mr. Rakesh Garach.