KZN Growth Fund

Contact details

Physical: 28th Floor, Delta Towers, 303 Dr Pixley Kaseme Street, Durban, 4001
Postal: PO Box 1817, Durban, 4000
Tel: 031 372 3720
Fax: 031 306 2547
Web: www.kzngrowthfund.co.za
Email: info@kzngrowthfund.co.za

Overview

The mission of the KZN 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/Management

Chairperson:
Ms Dudu Rosemary Hlatshwayo
Deputy Chairperson:
Mr Siphile Buthelezi
Board Members:
Mr Ashvir Dhuki
Ms Noluthando Radebe
Mr Khaya Thango
Ms Bongekile Zulu
CEO:
Mr Aubrey Lethukuthula Shabane (Acting)
CFO:
Mr Ismail Abdoola
Senior Management:
Mr Dieter Kasch (Acting Chief Investment Officer)
Ms Nomcebo Mpembe (Investment Officer)
Mr Bruce Ndidi (Investment Officer)
Ms Khwezi Nhassengo (Investment Officer)
Communications Officers:
Ms Ayesha Asmal (Executive Assistant: Office of the CEO)

Financial Information

All Financial Values: R'0002016/172015/162014/152013/14
 
AUDIT OUTCOMEClean AuditClean AuditClean AuditClean Audit
 
FINANCIAL POSITION
Current Assetsn/a603 548593 668707 986
Non-Current Assetsn/a490 952368 381106 403
Total Assetsn/a1 094 500962 048814 389
Current Liabilitiesn/a4 3962 33724 737
Non-Current Liabilitiesn/a115 238448 082573 594
Total Liabilitiesn/a119 634450 419598 331
Total Net Assetsn/a974 866511 629216 058
 
FINANCIAL PERFORMANCE
Total Revenuen/a128 77581 80350 916
Revenue from Exchange Transactionsn/an/an/an/a
Revenue from Non-Exchange Transactionsn/an/an/an/a
Total Expendituren/a(50 279)(31 231)(43 501)
Employee Related costsn/an/a(14 579)(4 821)
Surplus/(Deficit) for Yearn/a78 49550 5727 415
 
CASH FLOW
Net Cash Flows from Operating Activitiesn/a57 35724 8319 574
Net Cash Flows from Investing Activitiesn/a(48 377)(712)(65)
Cash & Cash Equivalents at End of Yearn/a580 699594 784608 000
 
UIFW EXPENDITURE
Unauthorised Expendituren/a---
Irregular Expendituren/a---
Fruitless & Wasteful Expendituren/a---
 
HUMAN RESOURCES
Posts Approvedn/an/an/an/a
Posts Filledn/an/an/an/a
 
Sources n/a Annual ReportAnnual ReportAnnual Report

Annual Reports


The information in this directory is supplied and/or externally sourced and is also subject to continual change. If you notice any errors or omissions, please contact us at info@provincialgovernment.co.za so that we can correct them.
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