NEF needs to broaden scope and application, THE STAR AFRICA, Page 20
Trade and Industry Minister Rob Davis's call to interrogate the National Empowerment Fund with regards to a loan granted to Ndalo Luxury Ventures is something to be welcomed. If the mandate of the NEF is such that it allows for people from disadvantaged backgrounds to compete head on with the rich elite for limited resources, then it is problematic. This presents an opportunity for the minister to overhaul the NEF's mandate. But how is this deal different from the incident of Nelson Mandela's children approaching the legal aid clinic at Rhodes University and pleading poverty? Both couldn't help but generate furore. The NEF's defence is getting tired. They have flagship projects here and there which they always mention to create the impression that they are doing something. What is never mentioned is the number of applications rejected on a yearly basis.