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NEF injects R35m funding into cement producing firm, BUSINESS REPORT (Cape Times)

BUSINESS REPORT (Cape Times) Page 18

The National Empowerment Fund (NEF) has advanced R35 million to two black entrepreneurs to buy a further 251 percent stake in a cement producing company. The funding will enable Jabulani Cekwana and Siphindile Ngiba to increase their shareholding in Value Cement to 73.79 percent. The investment will also facilitate a 43 percent female participation and a 57 percent direct and operational involvement by black management.

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