National Empowerment Fund

National Empowerment Fund (NEF) is an economic development agency located in Gauteng, South Africa. Established in 1998, the NEF's vision is to become the provider of innovative transformation solutions for an economically inclusive South Africa. The asset management division is mandated to promote a culture of savings and investment among Black people and develops and offers retail saving instruments to broad-based groups of black people. The assets are managed and governed by the Board of Trustees.National Empowerment Fund's investment portfolio is valued at ZAR2.37 billion, with investments in private equity and cash.