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Definition

A state owned enterprise (SOE) established in terms of the National Empowerment Act (105 of 1998) for the express purpose of promoting and facilitating black economic participation in the economy by providing funding and support to black business people. Like most SOE's the National Empowerment Fund (NEF) is dependent on handouts from the Treasury. The NEF says that it has, "...approved over R9.8 billion in funding for black entrepreneurs in various sectors of the economy, more than 99 445 jobs have been supported countrywide. Through the continuing investor education campaign close to 70 000 people in villages and townships have been provided training on how to save and invest, personal financial discipline, shares, dividends, bonds, the property and money markets. From 2012 to date business skills training has been provided to over 3 000 potential entrepreneurs".

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