NEF energises Power FM, THE NEW AGE, Page 14
New station has promised to shake up the lucrative Gauteng commercial radio market
THE National Empowerment Fund (NEF) said its participation in the making of Power FM is proof of its critical role in the transformation of the South African economy. It has funded Power FM, the new Gauteng commercial radio station scheduled to launch this week, to the tune of R36.2m. NEF's divisional executive of corporate finance and venture capital, Hlengiwe Makhathini, said: “Our funding was based on the project meeting the NEF's mandate by having a black-owned, -controlled, and -managed business.