Bringing in the bucks, REAL Page 72
When I was approached to head the National Empoweiment Fund (NEF) in 2006, it was in a mess. I must admit that the decision to accept the notoriously tough job of running such a state enterprise was not an easy one. I was about to walk into a dysfunctional organisation that was on the brink of collapse, and make it viable as well as implement broad-based black economic empoweiment (BBBEE). I knew that it wouldn't be easy.
GETTING THE JOB DONE When I was sent there, the first thing I did was to identify the root cause of the NEF's inefficiencies. It just hadn't been able to establish itself as a credible development finance institution (DFI) and I needed to find out why. When I took over the NEF, it had been running for four years, but had only managed to fund 11 businesses to the tune of R25 million.