Application for Support from the National Empowerment Fund (NEF)
This service describes the functions of the National Empowerment Fund (NEF) and how to access their spectrum of services. It is particularly relevant for the start-up business person; however, there are also very useful services for large corporates.
What is the National Empowerment Fund?
The NEF was established by the National Empowerment Fund Act of 1998 to promote and facilitate economic equality and transformation.
The National Empowerment Fund (NEF) was relaunched in May 2004 by the Trade and Industry Minister Mandisi Mpahlwa to re-focus and refresh these efforts.
The NEF Trust operates under the umbrella of the Department of Trade and Industry (the dti) and is governed by a board of trustees under the Chairmanship of the director-general of the dti.
Find out more about its history on the website.
Its main objective is to become a catalyst in facilitating economic equality and transformation, thereby maximising the empowerment dividend.
The passing of the broad based empowerment charter, government policy and other sectoral charters; and a deeper understanding of the current market needs led to the new mandate which resulted in the enhanced operational business pillars of the NEF. These are:
What is the Philosophy of the NEF?
How Do I Apply for Funding?
The NEF's funding activities are currently focused under Entrepreneur Support, which exists in the Group and Entrepreneurial Schemes division (GES). This offering provides acquisition and enterprise finance to support historically disadvantaged South African entrepreneurs. Entrepreneur Support provides equity and debt funding in accordance with venture capital principles, within a development context.
To access products under GES, a funding application process is initiated by the completion of a screening application form that tests for the eligibility criteria and commercial viability. For more information on these criteria and assistance on our products and services, please refer to our website address: www.nefcorp.co.za.
For more information:
The website has a comprehensive step-by-step guide on the funding process, access it here.
|Government Body:||(Department of Economic Development and Tourism, Western Cape Government)|