Brief
South Africa launches R1bn fund to support Black-owned businesses
A joint fund of R1bn from the Unemployment Insurance Fund and the National Empowerment Fund will provide seed capital to qualifying enterprises.
By Felo News Desk · Published
On 29 September 2026, the Department of Employment and Labour and Trade, Industry and Competition announced a R1bn fund to give seed capital and support to Black-owned and Black-managed businesses. The fund is a joint effort between the Unemployment Insurance Fund (UIF) and the National Empowerment Fund (NEF), each contributing R500m.
Employment and Labour Minister Nomakhosazana Meth said the partnership would expand access to finance and promote enterprise sustainability, job creation and retention. She highlighted that the fund aligns with the UIF’s Labour Activation Programme, which aims to recruit 200,000 unemployed people in 2026/27 and reach 605,000 beneficiaries over the medium term.
Key facts
- The fund totals R1bn, split equally between UIF and NEF (bizcommunity.com)
- Minister Nomakhosazana Meth launched the fund in Johannesburg (bizcommunity.com)
- The fund targets Black-owned and Black-managed businesses (bizcommunity.com)
- UIF provides short‑term financial relief to unemployed workers (bizcommunity.com)
- NEF offers financial and non‑financial support to Black enterprises (bizcommunity.com)
Sources
- [1] bizcommunity.com — originally reported as “UIF, NEF launch R1bn fund to boost Black-owned businesses and job creation”
