Charles Molele
The City of Ekurhuleni has entered into a R100-million per annum partnership with the National Empowerment Fund (NEF) to fund small businesses in the township.
This was announced on Wednesday by executive mayor Mzwandile Masina during his state of the city address at the council chambers in Germiston, Ekurhuleni.
Known officially as the Ekurhuleni-NEF Enterprise Development Partnership Fund, it “will provide both equity and debt finance for black-owned businesses doing business in Ekurhuleni and will also cover a number of economic sectors including manufacturing, construction and agri-processing”.
Both the City of Ekurhuleni and the NEF will each contribute R50-million each towards the fund.
“We have outlined our plan to achieve this noble goal with this state of the city address and will provide the resource plan through the budget speech in the coming period. We dare not linger in the quest to provide practical relief to the most
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