National Empowerment Fund (NEF) - Women Empowerment Fund (WEF)

The NEF established the Women Empowerment Fund, which is directly responsible for funding transactions promoted by, and involving, black women.  The aim is to accelerate the provision of funding to businesses owned by black women. The funding available is between R250 000 and R75m across a range of sectors, for startups, expansions and equity acquisition purposes.

In order to provide for different transactional needs, WEF uses a range of funding instruments that range from secured (senior debt) to unsecured options (equity), and/or a hybrid of the two. 

Eligibility criteria

• Your business has a minimum of 51% black female ownership.
  
• Black women are operationally involved at the managerial and board levels.
  
• Your business is commercially viable.
  
• Your business is compliant with all relevant laws and regulations.
  
• You can show that your business has the ability to repay WEF funding.
  
• Their funding will result in job creation.
  
• The geographic location of the business is also important. They typically focus on rural or economically depressed areas.
  
• The possibility of co-funding with private or public sector institutions is encouraged in larger projects.
  
• For property transactions, at least 51% of the annual expenditure of the business to be allocated to majority black-owned businesses.

Application process

The NEF website has an outline on how to apply for funding. 

Please ensure that you download the Application Form as well as the personal statement of assets and liabilities form. The link can be found on the left-hand side of the How to Apply page.

The application form contains details of what they expect to see in your business plan. Once you have all the documents prepared, you can submit your application at the nearest NEF office.