NEF seeks R1bn to fix capital shortage, Bdlive.co.za – Business Day Live

NEF seeks R1bn to fix capital shortage, Bdlive.co.za – Business Day Live

THE National Empowerment Fund (NEF) is in the final stages of negotiating a loan facility of R1bn from an undisclosed development finance institution to address its shortage of capital.

CEO Philisiwe Buthelezi said in the fund’s annual report tabled in Parliament last week that the loan was “imminent” following positive discussions with the departments of trade and industry and economic development as well as the Treasury.

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