The National Empowerment Fund (NEF) is established by the National Empowerment Fund Act, 1998 (Act No. 105 of 1998). The NEF is a driver and thought
leader in promoting and facilitating black economic participation by providing financial and non-financial support to black empowered businesses, and promoting
a culture of savings and investment among black people.
The operations of the NEF are governed by the Public Finance Management Act, 1999 (Act No. 1 of 1999) (PFMA), including the National Treasury Regulations, the King
Report on Governance for South Africa, 2009 (King III) and Protocol on Corporate Governance in Public Sector, 2002. The NEF provides business loans from R250 000 to R75 million
across all industry sectors, for start-ups, expansion and equity acquisition purposes.