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NEF and Solidarity Fund’s HCRF establish a R450m SMME support programme

The National Empowerment Fund and the Solidarity Fund’s Humanitarian Crisis Relief Fund have announced a R450 million financial relief programme to support small, medium and micro enterprises recover from the effects of civil unrest in KwaZulu-Natal and some parts of Gauteng, which broke out in July. Picture: Karen Sandison/African News Agency(ANA)

The National Empowerment Fund and the Solidarity Fund’s Humanitarian Crisis Relief Fund have announced a R450 million financial relief programme to support small, medium and micro enterprises recover from the effects of civil unrest in KwaZulu-Natal and some parts of Gauteng, which broke out in July. Picture: Karen Sandison/African News Agency(ANA)

Published Sep 28, 2021

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THE NATIONAL Empowerment Fund (NEF) and the Solidarity Fund’s Humanitarian Crisis Relief Fund (HCRF) have announced a R450 million financial relief programme to support small, medium and micro enterprises (SMMEs) recover from the effects of civil unrest in KwaZulu-Natal and some parts of Gauteng, which broke out in July.

The SMME Support Programme is a first between the two organisations, which would support businesses that could demonstrate that they were negatively affected by the riots and unrests in both provinces, the organisations said in a statement last week.

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Chief executive of the NEF, Philisiwe Mthethwa, said, “The financial support will be a blended loan and a grant offering. Of the R450 million contributed by the two partners, R300 million will be a loan portion while the balance will be grant funding. This developmental commitment aims at restoring business activity in the affected areas, and to save much-needed jobs to drive economic recovery and social stability”.

“One of the funding criteria is that the applicant must be a registered company, close corporation or co-operative, in good standing with the South African Revenue Service. The applicant must also demonstrate that jobs lost will be restored or increased within 12 months of receiving the funding,” said Mthethwa.

Applications can be sent to [email protected] Alternatively, enquiries may be directed to the NEF’s call centre on 0861 843 633 (0861 THE NEF). I Staff Reporter

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