Where did it all begin?
As part of a transaction in 1998, the NEF was allocated a 1.5% interest in the MTN Group.
In November 2000, the Government provided for State Allo- cated Investments to be housed under custody of the NEF. The intention was for these to be eventually transferred to Black people.
The NEF’s Asset Management Division developed a retail product known as the NEF ASONGE Share Scheme. ASONGE was the NEF’s initiative of fulfilling Government’s original in- tention of achieving this objective.