National Empowerment Fund says it's back to business, THE NEW AGE
THE National Empowerment Fund (NEF) says it's bouncing back to advance into a new business future – and various options are on the cards. Following a year-long suspension of funding activity, the NEF announced this week that its board had reopened funding. This was a surprise to many who had sounded the death knell for the black economic empowerment-focused development finance institution. In announcing the reopening of funding activity, CEO Philisiwe Mthethwa said since recapitalisation talks with the government began in 2009, the NEF had presented various funding scenarios. She said alternative avenues had not yet materialised because “the global economic contagion that began in 2008 confronted the country with a range of competing priorities on the social front”.