The National Empowerment Fund (NEF) was established by the National Empowerment Fund Act No. 105 of 1998 (NEF Act) to promote and facilitate transformation and economic equality. Its mandate and mission is to be the catalyst of Broad-based Black Economic Empowerment (BB-BEE).
 
One of the key areas of focus for the NEF is entrenching the participation of black people in early stage projects. Thus NEF also play’s a key role of identifying and creating projects that are at an early stage in which it would secure the participation of black people at an early stage. These projects fall within sectors that have been identified by the government as key drivers to the economic growth of South Africa.

It is for this reason the Strategic Projects Fund was established SPF is at the centre of NEF’s investment strategy when it comes to securing the participation of black people in early stage projects. It will provide Venture Capital Finance to develop South Africa’s new and strategic industrial capacity within sectors identified by government as the key drivers to economic growth.

The fund is led by the Chief Executive Officer who provides the strategic guidance, with the Head of the fund being responsible for the execution of that strategy.