Fund plans to grow economy
THE National Empowerment Fund (NEF) has crafted a range of development plans valued at R25-billion in order to propel economic growth.
NEF executives are currently in the US to present these plans to various financiers for the purpose of mobilising foreign direct investment into South Africa through the NEF's Strategic Projects Fund, says chief executive Philisiwe Buthelezi.
Buthelezi says these greenfield projects are located across various sectors of the economy and include tourism, mining, minerals beneficiation, agri-processing, renewable energy, business process outsourcing and infrastructure development.
"Given the need for the country to maximise job creation, very solid work has gained momentum in the NEF's Strategic Projects Fund (SPF), a unit established with a mandate to increase the participation of black people in early stage projects that are aligned to national government policy," she says.
"The SPF has been created to seek competitive opportunity for the South African economy and the inclusion of black participation in opportunities at the outset of projects, as opposed to doing so during equity closure.
"This area of work holds out lucrative opportunities for foreign direct investors who wish to become partners in a developing economy that is buttressed by a stable and vibrant democracy." -