The NEF is tasked with promoting and facilitating black economic participation by providing financial and non-financial support to black-empowered businesses and promoting a culture of savings and investment among black people.
Lending criteria: The NEF provides business loans from R250 000 to R75 million across all industry sectors, for startups, expansion, and equity acquisition purposes.
Priority sectors: All industries, including but not limited to ICT, tourism, transportation, textile industry, services, retail, property, printing services, motor industry, mining services, media, manufacturing, agro-processing, energy, financial services, food & beverages.
- The NEF Women Empowerment Fund is aimed at accelerating the provision of funding to businesses owned by black women across a range of sectors, for startups, expansions, and equity acquisition purposes.
- The iMbewu Fund supports black entrepreneurs wishing to start new businesses as well as supporting existing black-owned enterprises with expansion capital.
- The uMnotho Fund is designed to improve access to BBBEE capital.
- The Rural and Community Development Fund supports growth and development in rural economies by financing sustainable businesses.
- The Strategic Projects Fund is informed by government strategies and aims to support the government’s economic growth strategy.
- The Tourism Transformation Fund is a dedicated capital investment mechanism that will support black investors and communities to develop and expand tourism-related projects.