SOUTH AFRICAN BUSINESS Page 224
The NEF promotes black economic participation.
Mandate Established by the NationaL Empowerment Fund Act No 105 of 1998, the NEF is a driver and a thought-Leader in promoting and facilitating bLack economic participation through the provision of financiaL and non-financiaL support to bLack-empowered businesses. It also promotes a culture of savings and investment among bLack peopLe. Implementation Asset management By structuring accessibLe retail. savings products for black people through its Asset Management Division, the NEF aims to foster a cuLture of savings and investment among its beneficiaries.