Story thread · 2 reports / 2 sources

UIF, NEF launch R1bn fund to support Black businesses and jobs

sanews.gov.za · 9hShare

UIF, NEF launch R1bn fund to support Black businesses and jobs The Department of Employment and Labour, together with Trade, Industry and Competition (DTIC), through the Unemployment Insurance Fund (UIF) and the National Empowerment Fund (NEF), have launched a R1 billion fund to provide seed capital and financial support to black-owned and black-managed businesses. Launched by Employment and Labour Minister Nomakhosazana Meth in Johannesburg on Friday, the UIF-NEF partnership will expand access to finance for qualifying businesses while providing support aimed at promoting enterprise sustainability, creation and retention of jobs. The UIF and NEF will each contribute R500 million to the fund. Speaking at the launch, Meth said the department is investing in the people who build businesses, take risks, serve customers and create work in the communities. “We are also recognising a central lesson of South Africa's development strategy: if we want employment at scale, we must enable small b

First report: NEF and UIF invest R1 bln towards the unemployment crisis — sabcnews.com, 2d