Calling all Hustlers to Apply for the Rural, Township and Community Development Fund by the NEF

About the Opportunity:

The aim of the Rural, Township and Community Development Fund is to provide funding to aspiring rural entrepreneurs and to facilitate skills transfer and operational involvement by community groups thereby promoting social and economic upliftment in pursuant to the National Empowerment Fund (NEF) Mandate.

The NEF was established by the National Empowerment Fund Act No. 105 of 1998, which mandates the NEF to drive thought leadership in promoting and facilitating black economic participation through financial and non-financial support to black owned and managed businesses as well as promoting a culture of savings and investment among black people.

Projects must be financially sustainable
BEE applicants should be actively involved in the day-to-day operations of the business
Technical partners should be actively involved in the day-to-day operations of the business
The NEF will invest using debt, equity and quasi-equity instruments
Minimum black ownership of 25.1% is a requirement
Joint ventures between black and non-black partners to support skills transfer
The business should be able to repay NEF’s investment
The business must have a clear value-add with a sustainable business case
The NEF will exit from the investment in 5 to 10 years
The NEF reserves the right to oblige applicants to participate in the NEF mentorship programme