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NEF, BBBEE COMMISSION SIGN MOA TO STRENGTHEN ECONOMIC TRANSFORMATION

BEE NEWS

Tasneem Bulbulia | 9 December 2024

NEF and BBBEE Commission MoA Strengthens Economic Transformation

The National Empowerment Fund (NEF) and the Broad-Based Black Economic Empowerment (BBBEE) Commission have formalised a partnership with the signing of a memorandum of agreement (MoA) at the NEF’s head office, in Sandton, on December 9.


This agreement sets the foundation for enhanced collaboration between the two organisations, focusing on implementing and enforcing the BBBEE Act and promoting economic inclusion.


The MoA outlines a framework of cooperation, including capacity building, wherein the NEF will recruit and second employees or interns to assist the BBBEE Commission in fulfilling its compliance, monitoring, and educational mandates under the BBBEE Act.

It also entails information sharing to support the monitoring and advocacy work of the two organisations.


The partners will also share resources, with both organisations to leverage their expertise and resources to drive the objectives of the BBBEE Act, aimed at engendering greater operational efficiency.


“This agreement is a powerful step forward in our collective efforts to transform South Africa’s economy. By combining our strengths, we can ensure that black economic empowerment becomes more impactful and sustainable,” says BBBEE Commissioner Tshediso Matona.


“The NEF and BBBEE Commission share a critical mission to drive transformation across South Africa’s economic landscape. This partnership enhances our ability collectively to support black-owned businesses and enforce meaningful compliance with the BBBEE Act,” says NEF CEO Mziwabantu Dayimani.


‘Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER’.









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