Furniture Fund

Empowered by Design: Unlocking Growth in South Africa’s Furniture Sector

The Furniture Fund, a R50-million initiative approved by the Department of Trade, Industry and Competition (dtic), was entrusted to the National Empowerment Fund (NEF) to stimulate growth in South Africa’s furniture sector. Recognized as a labour-intensive industry with significant potential to create jobs and reduce reliance on imports, the furniture sector plays a vital role in the country’s economy.

Aligned with the Government’s Furniture Industry Master Plan, this fund seeks to empower local manufacturers to seize opportunities, particularly in the production of office and school furniture—designated products under preferential procurement policies. To advance this goal, the NEF is providing business loans of up to R5 million per transaction, supporting the sector’s expansion and contribution to sustainable economic development.

2. Fund progress made since inception to date

2.1. Approvals

The NEF began implementing the FIF under the dtic programme in April 2024. The programme was therefore in existence for a period of just over 20 months. A total of 10 transactions were approved under the programme for a total value of R40 003 000. A breakdown of the allocation of funds for these approvals follows below: