The rural and community development projects facilitates community involvement in projects promoting social and economic upliftment. In accordance with the BB-BEE Act, it aims to increase the extent to whichworkers, cooperatives and other collective enterprises own and manage business enterprises. Also it supports the BB-BEE Act objectives of empowering local and rural communities.
• Involvement of black managers at a senior operational level as owners
• Active presence of black investors at board level, including women, as owners
• Substantial ownership by black employees
• Joint ventures between black and non- black partners with the objective of skills transfer
• Minimum BEE shareholding of 50.1%
• NEF will invest using debt, equity and quasi-equity instruments
• NEF will target a nominal pre-tax IRR of 10% to 12%
• NEF funding generally limited to R20m
• The NEF investment horizon is 7 to 10 years