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The poor quality of business proposals affects the National Empowerment Fund's (NEF's) efforts to fund black entrepreneurs effectively, the organisation said on Saturday. Growing interest from black entrepreneurs seeking access to finance from the NEF has prompted the agency to form an online service for interested businesses so they may apply online.
“Our investment associates need the right information to perform a comprehensive analysis before undertaking a due diligence investigation into each business. Only then do they prepare the indepth analyses submissions for our investment committees for these applications to be approved and disbursed,” communications manager Moemise Motsepe said.