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National Empowerment Fund (NEF)
Mission statement The National Empowerment Fund Trust (NEF) will be a catalyst
of Broad-Based Black Economic Empowerment in South
Africa. The NEF enables, develops, promotes and implements innovative
investment and transformation solutions to advance sustainable black
economic participation.
Overview
The NEF was established by the National
Empowerment Fund Act No. 105 of 1998, for the purposes of promoting and facilitating
economic equality and transformation. The NEF operates under the umbrella of
the Department of Trade and Industry (the dti). The NEF's objectives are:
To redress the economic inequalities bequeathed by apartheid by providing historically disadvantaged persons (HDPs)
with opportunities to acquire shares in both restructured state-owned assets and private business enterprises, and by
encouraging a culture of savings and investment among HDPs and to foster entrepreneurship.
To achieve its goals of sustainable empowerment and transformation by promoting and supporting business ventures
pioneered and run by HDPs.
To promote a better universal understanding of equity ownership. Each of its activities are calculated to redress
the inequalities of the past, and promote a competitive and efficient economy capable of generating employment opportunities.
Divisions
The NEF's focus is based on the following areas of business:
