The NEF’s Fund Management Division provides much needed access to funding for black entrepreneurs and black empowered businesses which, despite having sound and commercially viable business plans and existing business operations, have been unable to raise finance.

The Fund employs just over 50 dedicated employees responsible for processing more than 16 000 applications and whittling this down to the 200 or so actual loans granted annually.

Until recently, a large percentage of this rigorous application and selection process, as well as the management of the loans granted was handled manually...

As a registered micro-financier, IZWE plays an important role within the financing community. It provides much needed credit through electronic banking channels to salaried employees with stable monthly incomes, who would typically fit the South African Lifestyle Sector Measurements (LSM)of 5 to 10. These borrowers generally have monthly household incomes of less than ZAR 7 500 but can still significantly improve quality of life through access to non-mortgage home improvement and developmental loans.

IZWE opened its first branch in Pretoria in 2004, followed shortly by its Johannesburg branch. Since then, there has been a steady and managed progression of branch openings, and IZWE now operates 25 branches throughout South Africa.