Intergrated Report 2025

Download 2025 INTEGRATED REPORT

About this Report

This Integrated Report provides a comprehensive overview of the National Empowerment Fund (NEF’s) performance, strategic direction, material risks, business model, stakeholder engagements, operating environment, and contribution to economic transformation during the 2024/25 financial year. It outlines the progress made in fulfilling the NEF’s mandate to advance Broad-Based Black Economic Empowerment (B-BBEE), as empowered by the National Empowerment Fund Act, 105 of 1998.