South Africa: NEF Grants Bbc R3 Million to Strengthen Black Industrialisation

press release

The National Empowerment Fund (NEF), the agency of the dti mandated to grow black economic empowerment in South Africa, has signed an agreement with the Black Business Council (BBC), a coalition of black business associations, which will see the BBC receive grant funding of R3 million from the development financier.

"The NEF and BBC are fraternal partners because they seek to bring about the growth and transformation of the South African economy, ensuring that black people are located meaningfully at the strategic and operational centre of the economy. The capital amount of R3 million will be made available to the BBC in the form of a grant. This will support consolidation of the BBC's technical capacity, as well as its national campaigns and advocacy work," says NEF Chief Executive, Ms Philisiwe Buthelezi.

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