In an effort to help fight the outbreak of Covid-19, the National Empowerment Fund (NEF) has set aside R200m for black business.
Motsepe said the fund had received over 30 applications for equipment and working capital valued at more than R149m.
He said the NEF targeted entrepreneurs from businesses that are already registered as suppliers with retailers and other institutions in good standing.He said companies that qualify must: be a taxpayer in good standing, with a valid tax clearance certificate at assessment as well as before the loan is disbursed;
Last week President Cyril Ramaphosa announced a Solidarity Response Fund, which was kickstarted by donations of R1bn each from the Rupert and Oppenheimer families. Trade and industry minister Ebrahim Patel said this week that the government had made available an initial R150m as seed funding and a number of other businesses have contacted the department about contributing to the fund.
Second is Nicky Oppenheimer at number 243. He sold his family’s 40% stake in De Beers, the world’s biggest diamond producer, to mining company Anglo American in 2012 for $5.2bn in cash. He maintains private equity investments in Africa, Asia, the US and UK through Stockdale Street in London and Johannesburg-based Tana Africa Capital.The Muslim Community of South Africa has already donated R1m to help the fund achieve its goals of aiding the poor and vulnerable during the 21-day lockdown.
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