ENTERPRISE DEVELOPMENT

Nedbank Group’s alignment with the financial reporting cycle means that ED is measured based on annual performance against the previous year’s NPAT. The group’s qualifying ED contributions include:

Grant contributions, which comprise overhead costs (salaries, direct costs incurred in supporting ED and other direct costs incurred, such as the Small Business Services free banking seminars).
Loans and related contributions in the form of black EME and QSE loans from Nedbank Business Banking and Nedbank R etail, and standard loans to other beneficiary entities, such as agriculture financing.
Contributions made towards human resource capacity building, such as the free service that Nedbank Small Business Services consultants provide for QSEs.
Shorter payment periods in procurement.

Engagement with municipalities and provincial governments remains a crucial component of sustainable enterprise development for Nedbank Group, particularly through its participation in various incubator programmes that create sustainable businesses and boost job creation. Nedbank Business Banking participates in various such programmes and interventions through the provision of grant funding, training and capacity building.



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