KwaZulu-Natal Growth Fund

Contact details

Physical: 28th Floor, Old Mutual Building, 303 Dr Pixley ka Seme Street, Durban, 4001
Postal: PO Box 1817, Durban, 4000
Tel: 031 372 3720
Fax: 031 306 2547


The mission of the KwaZulu-Natal Growth Fund is to provide competitive and innovative project finance to private sector investments that unlock growth opportunities in the KZN province for a better future by promoting direct investment, Broad-Based Black Economic Empowerment (B-BBEE) and job creation, whilst remaining financially self-sufficient and sustainable.

The Fund's principal objective is to steer sustainable economic development and job creation through facilitating the financing of medium- and large-scale infrastructure projects within the KwaZulu-Natal province. The KZN Growth Fund is therefore a project finance facility that has been developed by the provincial government to spearhead the funding of economic projects.

Its strategic objectives are to increase investment into the province; increase competitiveness of the regional economy; broaden participation in the economy; facilitate the development of skills; and facilitate B-BBEE.

Office Bearers

Ms Doris Rosemary Hlatshwayo
Deputy Chairperson:
Mr Helge Switala
Board Members:
Mr Siddiq Adam (CEO)
Ms Delia Jay
Ms Phumzile Langeni
Prof Imtiaz Vally
Mr Siddiq Adam
Mr Ismail Abdoola
Senior Management:
Mr Ahmed Jhaveri (Investment Officer)
Mr Bruce Ndidi (Project Investment Officer)
Mr Mlungisi Phungula (Legal Risk and Compliance Officer)
Mr Aubrey Lethukuthula Shabane (Chief Investment Officer)
Communications Officers:
Tutula Dumalisile

Financial Information

All Financial Values: R'0002015/162014/152013/142012/13
AUDIT OUTCOMEClean AuditClean AuditClean AuditClean Audit
Current Assetsn/a613 668707 986111 250
Non-Current Assetsn/a348 381106 403141 566
Total Assetsn/a962 048814 389252 816
Current Liabilitiesn/a2 33724 73747 573
Non-Current Liabilitiesn/a448 082573 594100 920
Total Liabilitiesn/a450 419598 331148 493
Total Net Assetsn/a511 629216 058104 324
Total Revenuen/a81 80350 91649 593
Revenue from Exchange Transactionsn/an/an/an/a
Revenue from Non-Exchange Transactionsn/an/an/an/a
Total Expendituren/a(31 231)(43 501)(41 985)
Employee Related costsn/a(14 579)(4 821)-
Surplus/(Deficit) for Yearn/a50 5727 4157 608
Net Cash Flows from Operating Activitiesn/a24 8319 5743 146
Net Cash Flows from Investing Activitiesn/a(712)(65)-
Cash & Cash Equivalents at End of Yearn/a594 784608 00025 957
Unauthorised Expendituren/a---
Irregular Expendituren/a---
Fruitless & Wasteful Expendituren/a---
Posts Approvedn/an/an/a23
Posts Filledn/an/an/a21
Sources n/a Annual ReportAnnual ReportAnnual Report

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