NEF fights for survival in budget no-show, THE NEW AGE
THE future of the National Empowerment Fund (NEF) remains uncertain after the 2014-15 budget offered no reassurance of recapitalisation. The black economic empowerment (BEE) focused development finance institution suspended funding operations last year after it had invested all its funds. The NEF was hoping to be recapitalised by the government but this did not happen. The 2014-15 budget did not allocate money to the NEF. The NEF remains confident of securing a recapitalisation while its caretaker office, the Ministry of Trade and Industry, said a review of the NEF’s funding model was underway. The DTIC spokesperson said the NEF will operate on money coming in from repayments on existing loans.