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BUSINESS REPORT, NEF blamed for entrepreneur’s troubles

BUSINESS REPORT (Pretoria News) Page 5

Wiseman Khuzwayo AN ENTREPRENEUR from Johannesburg says he is finanially ruined and his house in Morningside is about to be repossessed. This, he says, is the fault of the National Empowerment Fund (NEF) which under- I rmanced by R2 million a transaction to purchase a computer business. Sibusiso Mzizi knocked on the Department of Trade and Industry's door to get help. With not much success from that end, he has now taken his case to Business Report. Mzizi says that instead of advancing him the agreed loan of R7m, the funder paid only the purchase price of R5m – which doomed him to failure from the beginning. Without the additional R2m, he could not pay his suppliers.

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