TRANSFORM: The Quarterly Journal for a Transforming Nation[Cover Story]
Over the last year alone there has been an increase in efforts to fund businesses that are owned and managed by black women and as a direct result of this milestone, more than 26 300 jobs have been supported since inception.
Creating this significant number of jobs is not NEF's only achievement. Its mentorship program has been very successful in implementing turn around interventions. This has resulted in seven investee companies recovering from possible collapse.
“The original disbursed value of these deals collectively amounted to R288 million. If these (investee companies) were not rescued, 1 210 jobs would have been lost. In fact some of these companies are now achieving positive EBITDA's (Earnings Before Interest, Taxes Depreciation and Amortisation): says Philisiwe Buthelezi, the CFO of NEF.