A culture of saving and investment promoted in the Northern Cape


The National Empowerment Fund (NEF) is promoting their Saving and Investment Campaign this week in the Northern Cape Province.

The campaign started on Monday in Kimberley and is at the Bongani Community Hall in Douglas on Tuesday. NEF was established in 2004 as an agency of the Department of Trade and Industry (DTI) to establish and sustain black-owned businesses.

NEF’s spokesperson, Thebe Mabanga, says their overall responsibility is to assist in improving the culture of saving and investment. According to Mabanga, it is a national campaign that has already reached over 30 000 people and it’s the second time that it’s taking place in the Northern Cape.

“The campaign aims to teach people about the basics of saving and investing, how to get started, who to talk to and what saving instrument they can use. The campaign normally takes place in communities, for example, the current one took place in Galeshewe and it moved to Douglas. It will be heading to Prieska and Hopetown. We try to reach a broad section of the community who are willing to learn about saving and investing. We also talk to aspiring entrepreneurs where we give basic information of the NEF’s products and basic information.”

Mabanga further explains that the campaign will be teaching the basics of business planning, cash flow management and general entrepreneurship.