NEF funds women to own filling stations for growth
The Parliamentary Oversight Committees on Trade and International Relations and that of on Economic and Business Development recently conducted a joint visit to projects funded by the National Empowerment Fund (NEF) in Emalahleni, Mpumalanga.
The Chairperson of the Committee on Trade and International Relations Mr Eddie Makue said the purpose of the visits was to exercise oversight and ensure that taxpayer’s money was indeed utilised for what it was intended.
Speaking during the visit to a black women owned ENGEN Filling station, Mr Makue said it was important that Government became accountable for the use of taxpayers’ money.
The owner of the ENGEN filling station in Kwa-Quqa, Mrs Portia Malabela, said: “This is a business that requires one to be operationally involved so that you can ensure efficiency, accountability customer service, among a range of other priorities. The competition is too high and the challenges too numerous for one to be engaged on a daily basis. We are carrying 56 families here and we have to drive growth”.
NEF CEO Ms Philisiwe Mthethwa says since incepaged tion the NEF has invested R354 million countrywide for the purchase of 69 petroleum service stations that are owned and managed by black entrepreneurs, and these support 1 091 jobs. She says 35 of the 69 petroleum franchises are owned and managed by black women entrepreneurs.
“Our mandate is meaningful transformation across the economic spectrum, and therefore the centrality of women in the economy is a matter that requires no more talk, but positive and decisive action,” asserts Ms Mthethwa
The NEF has funded a total 124 franchises valued at R668 million out of a total 839 transactions valued at R8.6 billion.
Franchising is a key driver of entrepreneurship, economic growth and job creation, and contributes 10% to the country’s GDP.