NEF and UIF invest R1 bln towards the unemployment crisis
NEF and UIF have joined forces to build a R1 billion fund for job creation of at least 30,000 jobs
The National Empowerment Fund (NEF) and the Unemployment Insurance Fund (UIF) have collaborated to establish a R1 billion fund aimed at generating at least 30,000 jobs. Both organizations view this joint investment as a significant economic move. Their objectives include improving access to finance, promoting business sustainability, advancing Black Economic Empowerment (B-BBEE) goals, and enhancing collaboration in development finance.
This initiative is part of the UIF's labor activation program, which specifically targets the nation's youth unemployment crisis. The launch of this fund will be held under the theme "Investing in enterprises. Advancing employment and driving transformation." According to the most recent data from Statistics South Africa (Stats SA), the official unemployment rate has risen by 1.3 percentage points, reaching 32.7% in the first quarter of 2026.
Written by urgent.news from SABC News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
