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About us
As the debate concerning what constitutes meaningful and sustainable B-BBEE evolves, the NEF anticipates future funding and investment requirements to help black individuals, communities and businesses achieve each element of the Codes of Good Practice. These include a focus on preferential procurement, broadening the reach of black equity ownership, transformation in management and staff and preventing the dilution of black shareholding.
The NEF differentiates itself not only with a focused mandate for B-BBEE but by also assuming a predominantly equity-based risk to maximise the Empowerment Dividend. The reward should balance the risk with the application of sound commercial decisions to support national priorities and government policy such as the Accelerated and Shared Growth Initiative for South Africa (AsgiSA) or targeted investments through the Department of Trade and Industry’s (the dtic’s) Industrial Policy Framework (IPF).
The work of the NEF, therefore, straddles and complements other Development Finance Institutions (DFIs) by allowing the organisations to work in close collaboration in the promotion of B-BBEE. With them, the NEF can enhance other DFIs and their mandates by sharing its specialist sector expertise and knowledge of B-BBEE.
The NEF’s mandate, vision and mission.
Legislative mandate
Established by the National Empowerment Fund Act No 105 of 1998 (NEF Act), the National Empowerment Fund (the NEF) is a driver and thought-leader in promoting and facilitating black economic participation by providing financial and non-financial support to black-owned and managed businesses, and by promoting a culture of savings and investment among black people. The operations of the NEF are governed by the Public Finance Management Act No 1 of 1991 (PFMA), including the National Treasury Regulations, the King III Report on Governance for South Africa and the Protocol on Corporate Governance in the Public Sector, 2002.
Vision
The NEF’s vision is to become the leading provider of innovative transformation solutions for an economically inclusive South Africa.
Mission
The NEF is a catalyst for Broad-Based Black Economic Empowerment (B-BBEE) in South Africa. We promote, enable, implement and develop innovative investment and transformation solutions to advance sustainable black economic participation in the economy.
Values
The NEF implements its mandate in three ways:
1. Asset Management
By structuring accessible retail savings products for black people through its Asset Management Division, which is a custodian of certain equity allocations in State-Allocated Investments (SAIs), the NEF aims to foster a culture of savings and investment among its beneficiaries.
2. Fund Management
Fund Management, as a facilitator of the Codes of Good Practice of the Broad-Based Black Economic Empowerment Act (the Codes), supports the pillars of black enterprise by providing financial and non-financial solutions across a range of sectors to black-owned and managed businesses, for start-up, expansion and equity transformation purposes.
2. Fund Management Fund
Management, as a facilitator of the Codes of Good Practice of the Broad-Based Black Economic Empowerment Act (the Codes), supports the pillars of black enterprise by providing financial and non-financial solutions across a range of sectors to black-owned and managed businesses, for start-up, expansion and equity transformation purposes.
Our Support team is here to assist. Tel: 010 140 3099 Email: candidate.support@ci.hr